text:
Education Realty Trust, Inc. (NYSE:EDR)
Q1 2010 Earnings Call Transcript
April 22, 2010 5:00 pm ET
Brad Cohen -- IR, ICR
Randy Churchey -- President and CEO
Randy Brown -- EVP, CFO, Treasurer and Secretary
Tom Trubiana -- SVP and Chief Investment Officer
Michael Levy -- Macquarie
Paula Poskon -- Robert W. Baird
Karin Ford -- KeyBanc
Michelle Ko -- Bank of America-Merrill Lynch
Good afternoon, ladies and gentlemen. Thank you for standing by. Welcome to the Education Realty Trust First Quarter 2010 Earnings Conference Call. During today's presentation all parties will be in a listen-only mode. Following the presentation the conference will be open for questions. (Operator instructions) This conference is being recorded today, Thursday, April 22, 2010.
I would now like to turn the conference over to Mr. Brad Cohen with ICR. Please go ahead, sir.
Brad Cohen
Thank you. Good afternoon. During today's call management may make forward-looking statements. These statements are based upon current views and expectations. Such statements are subject to risks, uncertainties and other factors that could cause the actual results to differ materially from future results. Risk factors relating to the Company's results and management statements are detailed in the Company's Annual Report on Form 10-K and other filings with the Securities and Exchange Commission.
Forward-looking statements refer only to expectations as of the date on which they are made. Education Realty Trust assumes no obligation to update or revise such statements as a result of new information, future developments or otherwise.
It is now my pleasure to turn the call over to Randy Churchey, President and Chief Executive Officer. Randy?
Randy Churchey
Good afternoon. Thank you for joining us for the Education Realty Trust First Quarter 2010 Earnings Call. I'm joined by our Chief Financial Officer, Randy Brown, and by our Chief Investment Officer, Tom Trubiana. I hope you had an opportunity to review our press release.
Our first quarter 2010 adjusted FFO per share of $0.14 is consistent with our expectations. Randy Brown will discuss our first quarter results and full year outlook shortly.
I'm generally pleased with our results during the first quarter. We would stay focused on making progress each quarter as we work through the year. In some areas, our progress will be more immediate, and in others, it will take more time to show tangible results.
Our team is simultaneously focused on operating our current portfolio to maximize net operating income, signing new leases for the fall of 2010 term, evaluating our portfolio of capital recycling opportunities, working our industry relationship for new business opportunities, and continuing to conduct intensive reviews of the Company's business processes.
First, I will speak the property operations. We made reasonable stride in restructuring property operations while still maintaining positive fall 2010 pre-leasing momentum. As part of this process we previously announced leadership changes and some restructuring. For example, we realigned the capital expenditures process through our construction personnel.
This change and other changes that will be made should enable our regional managers and our community managers to focus on their top three priorities, pleasing our customers, generating increases and net operating income, and preleasing for the fall 2010 term.
In addition, we have improved our daily preleasing monitoring report and we will roll out new property level Web site for all loan properties by May 1st. We believe these two along with the other changes we have made will help us proactively manage our leasing activity and attract additional leasing traffic.
As we mentioned in our previous call, many of these changes will not have a substantial impact to the fall 2010 term given that many of these efforts commenced when we are already over 30% preleased. However, we do expect these initiatives to result and improve fall 2011 leasing.
We will be implementing additional initiatives throughout the year so that as we start focusing on fall 2011 leasing these initiatives will be in place and will help enhance the performance of our community.
Next, preleasing. We are in the middle of the fall 2010 leasing term. Due to the differences in school calendars and various universities we currently have signed leases for 100% of our inventory for next fall at some universities while at others we have signed leases for less than 20% of our inventory.
Our same-community preleasing occupancy for the fall 2010 term has increased to 52%, which is 1.2 percentage points ahead of last year at this time. Specifically, the Legacy community signed leases for about 2.3 percentage points behind last year and the Place community signed leases are about 6 percentage points ahead of this time last year.
Same-community net rental rate are approximately 1% ahead relative to last year. As I mentioned this data is based on only 52% preleasing for the fall 2010. Therefore, we do not suggest extrapolations to this data for the full fall 2010 leasing season.
We understand that sentiment and early reads on leasing and other sectors of multifamily are starting to see a turn. But as we previously communicated for our leasing our cycle is truly long, we're only able to have an impact on the following years results, not the current year's results.
A few comments about two of our newer communities which are now included as same communities in our fall 2010 preleasing data -- Syracuse and Southern Illinois. Our community at Syracuse opened in August 2009. As you may remember this is an on-campus development owned by EDR under our ONE Plan.
For the fall 2010 leasing term we have signed leases for over 86% of our inventory versus 129% last year at rates over 5% higher. As I mentioned on the last call, we still expect our community at Syracuse to generate unleverage return in this second year, equivalent to our initial underwriting for year two of approximately 8%.
Our community at Southern Illinois University opened 76% leased for last fall. We are currently 52% preleased for fall 2010 versus 34% leased at this time last year at net rental rate a little behind last year.
Now turning to development. Tom Trubiana and his team are continuing their pursuit of new opportunities by partnering with universities for building on-campus for our own account under the ONE Plan. These projects are complex and many times like in the case for our Johns Hopkins third-party development award these potential ONE Plan investments evolve into a straight third party development deal.
It takes a significant amount of time to all community get to a signed agreement and close these transactions. At this stage, we are actively pursuing numerous opportunities both ONE Plan investment and straight third party development deal, but we are unable to predict the timing.
We can say that our development team is extremely busy working a number of potential deals in contrast to the prior year's flow new development activity. This pick up in development activity is evidenced by our new third party development award at Mansfield University of Pennsylvania that we expect will commence in late 2010.
Additionally, we are making progress with other university partners in finalizing the development documentation and obtaining financing for many of our recently awarded and previously announced third-party development deals. The improved credit markets are one of the primary reasons behind the increased velocity of our development business. Most likely, any new third-party development deals awarded subsequent to today, will commence in 2011.
Let me now discuss the progress we are making as it relates to our capital recycling program. As we discussed last quarter we have agreements to sell two non-core assets, we still cannot provide more information about these assets as the buyers due diligence continues and final closing is still uncertain.
Importantly, our previous letters of intent for these assets are now signed contract. Since the beginning of the year we have spent a lot of time reviewing and reunderwriting the assets we own. That exercise is now substantially complete. The result of this work is that we have determined that we will more than likely retain 60% to 70% of our current beds and dispose off approximately 30% to 40% of our beds) over the next three years to five years.
Our underwriting criteria in evaluating our owned assets is similar to our underwriting criteria for new acquisition. I am not going to speak in detail about our current underwriting criteria, but in general terms, we prefer assets at larger enrolment universities, closer to campus and of a sufficient size.
I want to stress we do not have any pressure to sell these or any assets. All of these targeted assets are providing positive cash flow and we have sufficient financial flexibility to pursue a meaningful number of external growth opportunities without this capital recycling. Assuming market conditions permit, we hope to execute on a disposition plan in a timely fashion.
External growth opportunities are starting to emerge. Previously, we believe that relatively fewer companies would be pursuing opportunities in our real estate sector as compared to the other more crowded real estate sectors. It appears that is no longer the case. We are starting to see a ramp in activity from both buyers and sellers which is expected to drive down cap rate. I hesitate to mention cap rate since unique facts and circumstances impact each assets.
At recent industry conferences numerous market participants mentions cap rate for well located community in the six to low seven ranges. We are well positioned to capitalize upon new acquisition opportunities and we will expand energy and resources pursuing such. But given the relative limited supply of assets meeting our criteria to-date we do not expect many closings in this year.
As I stated earlier this year, our capital allocation decisions must yield improved results over prior years. Even in the current environment it is possible that we will be a net seller of assets in 2010.
We will continue to evaluate opportunities looked at larger assets that will also help bring down the average age of our portfolio. Furthermore, when we add assets we want to make sure that they are well located close to campus and the college of the universities that have a robust activity and where enrolment trends are positive and supply is limited.
We are well aware that this will not be without paying up. But it is one of the reasons we are focusing our efforts on creating and further building our relationships in order to find new maybe off market opportunities both for acquisitions and development.
Lastly, general and administrative expenses. For the quarter they decreased nearly 4% after excluding restructuring severance costs and third-party development deal costs of approximately 300,000 and 200,000 respectively. We believe these deal costs relatively be recovered. Even with this added development deal expense G&A was in line with previously communicated expectations. This is an area that we continue to focus a lot of effort on as we try to become more efficient.
In closing, I want to reiterate that the opportunities are exciting, our team and company are well regarded in the industry and my goal in the coming years is to help us reach our full potential. We do have challenges. And as we work through those and focus executing against the opportunities that emerge I believe that we will translate to meaningful and profitable growth opportunities over the long-term for all stakeholders.
With this overview, I will pass the call on to Randy for some additional discussions of first quarter numbers and our 2010 full year outlook and then we will try to answer some of your questions.
Randy Brown
Thanks, Randy, and good afternoon, everyone. Our first quarter FFO was $0.13 per share. FFO adjusted for the after-tax impact of severance and reorganization costs were $0.14 per share. Same-community NOI for the first quarter declined 4% compared to the same period in 2009, primarily due to a 2% revenue decline. This decline was mainly rate driven.
As discussed in our fourth quarter call in February, we anticipated same-community revenue to be behind last year due to lower occupancies resulting from the fall 2009 leasing results.
We are pleased to note however that the 4% shortfall in revenues sustained in the fourth quarter has narrowed due to better than expected spring leasing efforts and improved lease retention at both our Legacy and Place portfolios.
Looking at pages 7 and 8 of our first quarter supplemental you will see that our Legacy physical occupancy is now slightly higher than this time last year whereas we were approximately 100 basis points behind in the fourth quarter. For the Place portfolio physical occupancy will basically unchanged from the fourth quarter and showed a significant 440 basis points improvement over the first quarter of 2009.
Our vigilance towards cost controls at the property level followed through from the last quarter as first quarter same-community expenses were flat to the same quarter in 2009. In addition to normal payroll inflation we continue to experience costs related to utility expenses. However, we have mitigated some of these increases by negotiating lower internet pricing successfully contesting real estate assessments in certain markets and reaping lower insurance premiums.
Our balance sheet and capital structure continues to be in very good position for 2010 with approximately $28 million in available cash and an unused credit facility. Combined, these provide us with the flexibility to react quickly as growth opportunities arise. Our first quarter interest coverage ratio was a solid 2.1 and our debt to gross assets was 43% which is well below the multi-family sector average of 51%.
At March 31, over 93% of our debt is either fixed or capped with average interest rate of 5.3%. We have no more mortgage debt maturing until 2012. We have approximately 29 million in construction loans maturing over the next 18 months, all with two year extension options which we plan to exercise.
As Randy discussed we are also implementing a capital recycling strategy selling non-strategic assets as the market conditions permit which will allow us to potentially delever more and further improve our financial flexibility.
Now, turning to the 2010 guidance. We are reaffirming our prior guidance of FFO adjusted to be in the range to $0.34 to $0.40 per share. This estimate is based in part on the following assumptions. For our same-community portfolio we estimate revenues will be flat to 2% lower, operating expenses will rise 1% to 2.5% and our full year 2010 NOI will be 2% to 7% lower than 2009.
And though our first quarter physical occupancies are ahead of our expectations and our current preleasing is slightly ahead of last year we are not at a point yet to change our operating guidance given that our portfolio is only 52% preleased at this time. We continue to expect our 2010 third-party development fees to be approximately $1.2 million.
As Randy mentioned we are very active in pursuing development opportunities. We expect to win our fair share of deals and see progress in the financing efforts of our awarded development contracts. However, we remain cautious in revising our guidance in this area until such financing is finalized.
We continue to believe third-party management fees will be approximately $3 billion for the year. In the area of general and administrative expenses we reaffirm our previous range of $15 million to $15.7 million which does not include the impact of any severance or restructuring charges. As Randy mentioned earlier, we recorded approximately $300,000 in previous severance expense during the first quarter. We also anticipate incurring another $200,000 of severance expenses in the second quarter.
Lastly, our guidance does not include the impact of any capital transactions, ONE Plan developments, asset sales or acquisitions or a new third-party development or management contracts.
With that I will now turn it back to Randy Churchey.
Randy Churchey
Before taking questions let me summarize. In the first four months I believe we made good progress. One, we continue to restructure our property operations while maintaining positive momentum for fall 2010 preleasing. Two, we have been awarded another new third-party development contract this time at Mansfield University of Pennsylvania. Three, other recently awarded third-party development contracts are advancing to construction. Fourth, two previously disclosed assets fail letter of intent for two communities who have progressed to signed contracts. And last, we reduced corporate general and administrative expenses by nearly 4%.
Operator, let us open up the line for questions.
Question-and-Answer Session
(Operator instructions) Our first question comes from the line of Michael Levy with Macquarie. Please go ahead.
Michael Levy – Macquarie
Thanks. Good afternoon. I was wondering if you could tell me on the leasing front, are rents higher as a result of the better environment or because of changes that have been made since any of the new initiatives may have been put in place.
Randy Churchey
Hey, Michael. I think it's mainly the environment. As I mentioned earlier, we've made a variety of changes in our property operations, led by Christine Richards and I always been (inaudible) say that those changes will go into manifest themselves and to improve rate this year. So I think that is still true, I mean, we have made marginal impact, but as you know, we said in our prepared remarks our rates are up just marginally. So to try to figure out how much has to with the changes we made versus market conditions I think it will be a wasted effort, it's probably a little bit above.
Michael Levy – Macquarie
Okay. That's helpful. And also I understand why preleasing is up in the Place portfolio. Can you possibly discuss why preleasing had declined in some of the larger Legacy assets like Clemson, well, the Reserve at Clemson and University Towers, to name a couple?
Randy Churchey
Sure. As you know, Mike, I have really hesitated to speak to individual assets but I really think from a competitive standpoint it's not what I should do. But in the past I have spoken to some of our Arizona assets, a few of our Place assets, and I will make a couple comments.
First, in grand total, as you stated leasing this year versus last year is about to push. Obviously, we have a number of assets that are ahead of last year and we also have a number of assets that are behind last year. The reasons why we are ahead or behind are typically the same, right. Either you had increased or decreased enrolment, new supply or lack of new supply and so forth. Most of the properties that are behind I really think their timing and it's not something that we're overly concerned about, a little nervous of course, but not overly concerned.
But one I will mention in particular is College Grove at Middle Tennessee State University. This year we are 20% preleased, last year this time we were 43% preleased. And last year we had in the beginning of the year occupancy is 91%. We're behind in leasing there due to our own problems. We've let this property deteriorate from maintenance and cleanliness standpoint. Our property no longer has a great reputation.
We've made a number of changes but I doubt we're going to be able to sufficiently recover this year. I hope we will be able to achieve 90% of occupancy and I hope that will be at reasonable rate. But this is one out of the properties that you see where we're behind. We've done it to ourselves. And I'm not expecting it to fully recover. The other market like I said before I'm nervous, because I should be, but I'm not overly concerned.
Michael Levy – Macquarie
Okay, that's helpful. And then just one final question. I think you said that you had heard at conferences or it was said at conferences that student housing properties were trading in the 6% to 7% range. I believe that's higher than what you had indicated previously. Would you be comfortable being a buyer at those cap rates?
Randy Churchey
Mike, as you know, each asset is going to have unique facts and circumstances. What we did here at the conference and maybe I said it a little bit wrong in my prepared remarks we were told that the discussions were in the six to low cap rate range. As you know, there's not many assets that have traded hands in the past year and a half and not much this year so far. When we look at acquisitions, as you know, we look at the long-term internal rate of return, we'll get from those assets. So could I be a participant at cap rates in that range? Possibly.
Michael Levy – Macquarie
Okay, thank you very much.
Randy Churchey
Thank you, Michael.
Our next question is from the line of Paula Poskon with Robert W. Baird. Please go ahead
Paula Poskon -- Robert W. Baird
Thanks very much. Good afternoon, everyone.
Randy Churchey
Good afternoon.
Paula Poskon --Robert W. Baird
A couple of housekeeping questions first. Where is food service and (inaudible) booked?
Randy Churchey
We decided to group that in the top revenue line item because the number was so small that we didn't think it was meaningful.
Paula Poskon -- Robert W. Baird
Okay, thanks. And as of what date is the preleasing data?
Randy Churchey
We apologize for leaving that off. It was an oversight. It's last week April 12.
Paula Poskon -- Robert W. Baird
Great, thank you.
Randy Brown
That's been updated/revised on our supplements on our Web site now, Paula.
Paula Poskon -- Robert W. Baird
Thanks, Randy. And what was the amount of severance charges recognized in the first quarter?
Randy Churchey
Just under 300,000 gross.
Paula Poskon -- Robert W. Baird
And do you expect to recognize more throughout the year?
Randy Churchey
I think in Randy's prepared remarks he said we expect another 200,000 gross in the second quarter.
Paula Poskon -- Robert W. Baird
Thank you. .I am sorry I missed that.
Randy Churchey
That's all right. And just going forward is as we said on the call we continue to evaluate our business processes and so forth. So it's possible there will be additional charges and fees.
Paula Poskon -- Robert W. Baird
Okay. And then coming back to the portfolio, in particular, Randy, on your prepared remarks, could you talk or provide a little bit more color on what's happening up at Southern Illinois University? As you know there was a cover story in the Chronicle of Higher Ed, that wasn't particularly flattering around the financial situation up there. So I'd just like to get your thoughts on that.
Randy Churchey
Sure. As you know, Southern Illinois has enrolment of about 20,000 students. So I guess I read that article, I guess with an enrolment of 20,000 students alarm is much as what the article said. But today, where we are, our beginning of the occupancy was 76%, we're currently 52% preleased versus 34% last year. Rates are down. And the University has had a 5% enrolment decline over the last five years and most people think that will continue. So the rate is under pressure.
Specific to the article, obviously, everyone is well aware of the economic environment, the challenges that universities are facing. Many states are looking for solutions to bridge the revenue and funding shortfall the university system. We've reviewed what's going on in our markets, obviously, we have no control over what's happened with the state university budgets, but regarding this article, again, it's university with 20,000 student enrolment, I don't think it's going anywhere in the history of colleges, colleges of that size, usually don't change very much over time.
Paula Poskon -- Robert W. Baird
Okay. And then kind of sticking with that bigger picture stuff, as you are talking to universities, do they feel like the worst is behind them or do they still feel like they've got a long road ahead around their financial situation?
Tom Trubiana
Paula, this is Tom Trubiana.
Paula Poskon -- Robert W. Baird
Hey, Tom.
Tom Trubiana
In most cases, there's still significant financial pressures. I don't think the allocation from the states has changed much over the last year than so as we pursue private/public partnerships we're seeing more and more schools looking for the potential of a private equity solution and great concern about any kind of impact to their balance sheet. I candidly don't see that there has been much relief on that front at this point in time.
Paula Poskon -- Robert W. Baird
That's helpful, thanks, Tom. And then just one last question. As you're going through, Randy, the leasing season, what are you hearing from students and parents around their economic situation?
Randy Churchey
It's surprising to me that we're really not hearing a whole lot different than what is normally. I think you recall from last year's calls, which of course, I went on, our sense was that while there is financial pressures, people are still spending for all campus housing for their kids and it really hasn't significantly changed. Now, they all read in the papers that they all be getting better rates so they negotiate with us on rates. But for the most part the sentiment is pretty much the same.
Paula Poskon -- Robert W. Baird
Okay, thanks, I will jump back in the queue. Thank you, guys.
Randy Churchey
Our next question is from the line of Karin Ford with KeyBanc. Please go ahead.
Karin Ford -- KeyBanc
Hi, good afternoon. A similar question to one asked earlier. The mid semester occupancy improvement due to some spring leasing you did and improved retention in January. Is that fairly unique? Have you guys seen that before? And is that an indication of improving environment or improving operations or both?
Randy Churchey
It is unique for us. And that we typically in the path not had a concerted spring leasing effort that has yielded the tangible results that you're seeing today. So for us it is unique. For others I'm not sure. We'll of course do that again next year at select schools, again, we're still trying to lease for the entire 12 months, but at some schools the way their schools have been trained I guess there is less leasing for the ability to do that's bring spring leasing that we did this year, we'll probably do it again at some schools.
Karin Ford -- KeyBanc
That's helpful. A numbers question. I know you said the same-store portfolio changed from 4Q to 1Q due to the inclusion of those two additional properties. Can you just give us an apples-to-apples comparison? You were 120 basis points ahead as of 4Q and then 120 basis points ahead as of 1Q from a preleasing perspective. Do you know what it is on an apples-to-apples comparison, either including or excluding those two properties?
Randy Churchey
Karin, I don't have that in front of me, but it's not significant, as you can see the number of leases that go into the grand totals on the page you're looking at is 770 [ph] on 13,000.
Karin Ford -- KeyBanc
Got it. Okay.
Randy Churchey
Sorry, it's not (inaudible).
Karin Ford -- KeyBanc
(inaudible) Okay. A question on the acquisition environment. You said you're seeing a lot more competition, a lot more buyers. Who are they and what types of products are they looking for?
Tom Trubiana
Karin, this is Tom. A lot of this is coming from the interface conference that was in New York and RealShare that was in Dallas, just this past week. And I guess I'd say the whole move that related to student housing whether that was developers who now find the ability to get construction financing, where Freddie and Fannie's loosening up their credit standards, I don't want to call the story, but there's been a real mood swing over, I'd say, in the last three months. I don't think any of that really has manifested itself, because there's still hasn't been that much product that has come to market and so when you go to these conferences, talk is cheap and we'll find out where things end up that clearly, there was a change in terms from say a year ago.
Karin Ford -- KeyBanc
And I know, Randy, you had talked in the past about talking to developers who may have a project close to completion and needed permanent financing or maybe special services as target for potential acquisitions. Are you seeing competition on both those fronts, to that more competition today?
Randy Churchey
Karin, as you know we are trying to develop a proprietary deal flow, if you will, both from an acquisition and a possible third-party development or co-development standpoint. And we're gaining traction. We have received numerous sponsors backed our increase and we're trying to work close. I hesitate to go into great details I think it might be something that that's a competitive advantage. Really, what we're talking about earlier regarding the cap rates and so forth, again, as like Tom said, it's talk a conferences, talk brokers and so forth, we're seeing increased activity. I'm really not seeing people increasing their activity or trying to do what you alluded to and what I have alluded to. I don't want to talk about too much I guess.
Karin Ford -- KeyBanc
Final question is just on the asset sales, the 30% to 40% you might want to sell over the next five years. You mentioned that you're going to start that process as soon as market conditions permit. What type of market conditions do you want to see before you get started there?
Randy Churchey
Karin, as evidence of that we really already started we do have two projects that are on the contract, so we really started the process, trying to evaluate the market to see what the appetite might be for asset that we might want to dispose off, but in general, you didn't ask this question specifically, but I'm glad to add this information. We talked about the Place portfolio in the past.
And when we go through our current underwriting for acquisition, while not absolute that criteria really pretty much precludes us buying similar asset to many of the assets in the Place portfolio. So when we talk about market conditions permitting what we're really saying, I guess we need to have a little bit is if we think we can sell assets like that in a robust market that would be market conditions permitting. Today, that's really not the case yet even though there's a lot of talk, but it might be soon.
Karin Ford -- KeyBanc
And you're also waiting to get the operational improvements in place as well?
Randy Churchey
As you know the timing of exactly when you sell something is unique to the assets, sometimes you can sell stuff at a better price than what you might think in the future so getting the optimal return or optimal operation of that asset may not make sense. It will be sum of both I would assume.
Karin Ford -- KeyBanc
Fair enough, thank you.
(Operator instructions). Our next question is from the line of Michelle Ko with Bank of America-Merrill Lynch. Please go ahead
Michelle Ko -- Bank of America-Merrill Lynch
Hi. I just wanted to get back to your preleasing stats on the Legacy portfolio. For some of those assets that were lagging a bit, are there any particular markets that you thought were lagging? Because it seems like some of the particular assets that were lagging, some of them were in Florida and Tennessee. I was just wondering if those markets had anything specific to them that, that could be a factor.
Randy Churchey
Michelle, while we talk about Florida in the past they've capped their enrolment and there's so much new supply at the University of Florida that's going to take time to absorb that supply and, of course, the negative enrolment hurts that effort. So we've talked about that in the past. Actually, I mentioned Middle Tennessee State earlier where we've been the problem, if you will.
The rest of the markets, again, it's to me it's not colleges or state as much as it is location at those colleges, for instance, if you look at our two properties in Florida State, Players Club in the Commons, you will see players club is a 11% ahead in preleasing at a 82%, but the Commons is around a 11% behind, it's 23%. So that's a great example of it's just not the colleges, it's the location at a particular college.
Michelle Ko -- Bank of America-Merrill Lynch
Okay, great. And then you've talked about recycling capital, potential acquisitions and then, of course, there's the ONE Plan on campus developments. I was just wondering if you could tell us over the next few years where you think more of the growth is going to come from, will it be internal or will it be external? And amongst the external do you think it will come more from acquisitions or more from the ONE Plan?
Randy Churchey
Sure. Tom will talk about the ONE Plan in a minute. But what I believe is going to occur and I think I alluded to somewhat in my prepared remarks the ONE Plan deal taken enormous amount of time, working with our university partners and so forth. And we're actively pursuing a number of ONE Plan investments and I hope we will be very, very successful in growing the company that way.
But when I sit back and think where we're going to be five years from now and how we're going to allocate our capital, I still believe that a large majority of that capital allocation over the next five years, say,60% to 70%, 75% is going to be in acquisition versus ONE Plan development. But again, I somewhat hope I'm wrong, I hope that ONE Plan takes over because we really think that is a fantastic use of stockholders capital. And just to give you a little more sense on ONE Plan, Tom?
Tom Trubiana
Yes, sure enough. Vast majority of RFPs and we're actually seeing increased activity. So the demand for university to be revitalized their housing certainly, is not diminished. In most cases, we're being asked to look at it both from doing a tax exempt financing or in our case the ONE Plan in equity model. And from a university's vantage point really comes down to the level of important stay put and to reserving their debt capacity, because if we're putting up our equity, the university loses some control over managing the facility, rental rates, etc., and generally speaking, those less cash flow.
So, really, the real driver to the ONE Plan or equity models there are schools really trying to protect that very precious limited debt capacity they have for other university purposes. I agree with Randy that verdict is kind of out and that clearly schools are more and more to looking at it. And this will depend upon what happens to the capital markets and state funding that becomes available in the future. But clearly, it's a place we would like to be. We're seeing this much easier when you are the university's housing.
Randy Brown
Randy, you mentioned a little bit about the movies, the paper.
Randy Churchey
Movies put out annually, they put out a position paper and they just put one out at the end of March and a number of folks who ask questions related to what are the impacts of it. Actually, in this most recent March report, they largely confirm what they've been saying over the last four years or five years and that is that each and every public/private partnership is different and any university credit impact it will vary based upon the specific project characteristics.
So the key takeaways for us on these most recent movies report is that they have eliminated the concept of indirect debt, is basically what was the school had no real legal obligation and we actually see that as a positive for our on-campus equity program, the ONE Plan, because the concept of indirect debt has been most directly related and tied to tax exempt financial structures.
The second key point is and this came were from verbal conversations with the folks from annuities that clearly on-campus project that are financed with the significant amount of equity from a strong financial partner that those projects will be viewed more favorably than projects that are 100% financed, because of the reduced probability that the university would have to somehow financially support the project. So, that's our take on that and that those of you that have any chance of, Moody's report is out there, and you may want to refer to it for additional information. We see it as a positive.
Michelle Ko -- Bank of America-Merrill Lynch
Great, thanks so much, that's very helpful.
Randy Churchey
You're welcome.
Tom Trubiana
Thanks, Michelle.
Mr. Churchey, I see there are no further questions at this time. Please continue with any closing remarks.
Randy Churchey
Right, thank you. Well, everyone, thank you for your interest in our Company and we look forward to updating you on our progress in a few months. Thank you.
Ladies and gentlemen, this concludes Education Realty Trust Conference Call. Thank you for your participation and you may now disconnect.
Copyright policy: All transcripts on this site are the copyright of Seeking Alpha. However, we view them as an important resource for bloggers and journalists, and are excited to contribute to the democratization of financial information on the Internet. (Until now investors have had to pay thousands of dollars in subscription fees for transcripts.) So our reproduction policy is as follows: You may quote up to 400 words of any transcript on the condition that you attribute the transcript to Seeking Alpha and either link to the original transcript or to www.SeekingAlpha.com. All other use is prohibited.
If you have any additional questions about our online transcripts, please contact us at: email@example.com. Thank you!


text:
In the Spotlight
At SOC event, Martin Baron talks about how his work became a movie.
At SOC event, Martin Baron talks about how his work became a movie.
David Aldridge Receives Basketball Hall of Fame's Curt Gowdy Media Award
TEDx Returns to AU and features 3 SOC affiliated speakers: Kara Andrade, Jordan Coleman and Sarah Preston
Jane Mayer is coming to AU to have a conversation about her new book on the Koch brothers.
AU Association of Black Journalists hosts its second annual "Voices" panel with local DC communicators of color.
Student readings about race, violence and loss in the black, Native American, Latino, Asian American and white communities.

subset: commoncrawl


text:
This profile was last updated on .
Is this you? Claim your profile.
Email: l***@***.com
+ Get 10 Free Contacts a Month
Please agree to the terms and conditions
I agree to the Terms of Service and Privacy Policy. I understand that I will receive a subscription to ZoomInfo Community Edition at no charge in exchange for downloading and installing the ZoomInfo Contact Contributor utility which, among other features, involves sharing my business contacts as well as headers and signature blocks from emails that I receive.
190 Golden Bridge Road
Katonah, New York 10536
United States
With 39 offices throughout Westchester County and Stamford, CT, Westchester Health Associates is a full-service medical group with a large primary care practice, as well as specialists in: allergy/immunology, cardiology, dermatology, endocrinology, gastro ... more
American College of Foot and Ankle Orthopedics and Medicine
New York College of Podiatric Medicine
Find A Westchester Health Physician * Multi-Specialty Medical Group * Katonah * Yorktown * Brewster * Armonk * Mt. Kisco
www.westchesterhealth.com [cached]
PHYSICIANS | WestchesterHealth
www.westchesterhealth.com [cached]
www.westchesterhealth.com [cached]
www.westchesterhealth.com [cached]
Larrie S. Rockmacher, DPM - Mount Kisco and Somers, NY Foot Doctor
www.nyfeet.com [cached]
Abigail Rockmacher
The College of Saint Rose
Seth Rockmacher
ResinTech Inc
Jeremy Rockmacher
Crohn's & Colitis Foundation of America , Inc.
Warren Rockmacher
Fairfield Investment Services.
Vivian Rockmacher
Global Shield Solutions LLC


text:
Fairy Garden Gazebo Wire
Product Actions
BUY ONLINE PICK-UP IN-STORE now available in a store near you.
Pick-up in one of our locations near you.
Additional Information
Create a beautiful fairy garden display with decorative accents like the Fairy Garden Gazebo Wire. Designed with small leaf accents, you can use the fairy garden gazebo to section an outdoor space in your miniature setting. Intertwine green leaves, creepers and climbers or vine leaves over it for added visual appeal. Place small garden rocks, miniature swings, decorative mushrooms and fairy figurines to complete the look
- Collection: Fairy Garden
- Theme: Gazebo Wire
- Dimensions: 6.5 x 6.5 x 10 inches
- Handling Code:
Items shipping from our warehouse ship within 3 business days (Mon-Fri) for standard shipping. If an order is placed on Friday, Saturday or Sunday, it will ship out within 3 business days the following week. Items shipping direct from the manufacturer will take additional processing time and ship separate from the remainder of your order. See our Full Shipping Policy >
|In-Home Arrival Estimate
|6-9 Business Days
|3 Business Days
|Express Plus
|2 Business Days
For pricing information, please see our shipping table, shipping prices are based on order total.
Creativity shouldn't be complicated, so you can return items for FREE any time to our stores for a hassle-free refund with a smile. You can also return online items by mail. See Full Return Policy for Details and Exclusions.>


text:
Productivity Gain by New York Sanitation Crews Is Even Bigger
Published: April 8, 1987
To the Editor:
Thank you for recognizing the splendid productivity results New York City's Department of Sanitation has achieved by reducing the size of collection-truck crews from three workers to two (''The Worm and the Apple,'' March 22).
Let me, however, clear up one small matter. The department needed 3,900 (not 2,900) workers in 1981 to pick up the 3.3 million tons of municipal refuse generated by New Yorkers, and we now use only 2,600. That means we actually saved 1,300 worker salaries through the conversion from three workers to two per crew, even though we are now picking up more trash. BRENDAN SEXTON Commissioner of Sanitation New York, March 23, 1987


text:
Dismiss NoticeLike to discuss POLITICS? Come join us at PUNNDITS.com!If you like discussing politics and other related topics then your new home (hopefully) for doing just that can be found on Punndits.com! Come join us and help us grow Punndits into a wonderful and safe place to discuss politics with everyone.
Girl gives birth while walking and then just walks away in Turkey
Discussion in 'Off-topic Zone' started by Sam I Am, Oct 25, 2012.
Page 1 of 2
Page 1 of 2


text:
Swapping fuchsia cuttings
By Scotkat
32 comments
Anyone want to swap .
Shall put up a list of my cuttings.
- 9 May, 2009
- 3 likes
Previous post: Orchids growing well
Next post: Encliandra Fuchsias
My fuchsias are hopeless this year Kath. - No cuttings suitable, and very slow growth. I lost a lot in the winter aswell. Maybe later in the year I'll be able to take some cuttings.
9 May, 2009
I had lost most of mine bu thave been buying plugs earlier in year and taking cuttings.
Also bought new fuchsias this year so will be taking tip cuttings soon.
Be good to have a fuchsia swap cuttings group.
9 May, 2009
Yes it would. I've bought a few new ones but very small . I'll be taking cuttings later when they've grown a bit. I'd like to swap some when they're ready.
9 May, 2009
Ok I will put up a list of my new fuchsias that I have cuttings and will be taking cuttings.
And Lady Boothy growing slow outside will take a tip cutting for you to give back.
9 May, 2009
Thanks Kath :o)
9 May, 2009
Your welcome Hywel:)
9 May, 2009
A great idea, mine are very slow to come into new growth this year also, and like you Hywel i lost some good plants over the winter, especialy the larger one's, dissapointing really, I was reluctant to buy more this year as i always do too many, not leaving room for much else,
9 May, 2009
Lets all put up a list of our Fuchsia names.
9 May, 2009
I'll put a list of the ones I think I can get the best cuttings from. I'll have a look at them later.
9 May, 2009
My list
Coachman from Islander growing very nice
Swingtime standard from cutting from Islander
Rest I have bought
Dancing Flame
7th Heaven
Melting Moments
Black Prince
Igloo Maid
Bon Accord
Breeders delight
Blue Boy
Aunite Jinks
New ones today all go tloads of 3leaves these are for standards for kids garden club
Sarah Eliza
Deltas Sarah
Orange Crush
10 May, 2009
Anyone got encliandra fuchsia cuttings
10 May, 2009
I don't have any that I can take cuttings off at present Kath. They're all so small. I've bought a few new ones but not big enough to take cuttings yet. Later hopefully.
10 May, 2009
What are the names of your new fuchsias Hywel?
11 May, 2009
My new ones are :-
Pink Galore
Natasha Sinton
Alice Hoffman (hardy)
Deltas Sarah (hardy)
Dollar Princess (hardy)
Heidi Ann (hardy)
Garden News (hardy)
Tom West (hardy ? )
These next ones will be able to take cuttings in a few weeks :-
Celia Smedley
Lechlade Magician ( hardy - a large bush )
Delta's Parade
Delta's Sprinkler
Blue Mirage
Miss California
Orange Crush
I also have some of Beryl's because I keep them for her in the winter
Some have cuttings but they don't have labells on them.
11 May, 2009
In your list I have Orange Crush,Garden News and Deltas Sarah.
Out yours and mine we can swop some cuttings later .
Today going to buy a bigger fuchsia its £3.50 more than I would want to pay but is a beauty Dorothy Clive.
And not seen it in a plug.
Its stopped raining floks looks like it may be nice was frosty frosy forst but steam now rising.
11 May, 2009
David (Hardy)
Anna of Longleat
Allsion Patricia
Pink Spangles
Bought these for someone else but will let them grow on in my greenhouse and maybe take cuttings along the way.
12 May, 2009
This is a great idea Scotkat, i dont know why Goy does not have a " plant swap shop,"
I am on the lookout for Fuchsia microphylla,
16 May, 2009
I had that but it didn't survive the move to this garden. It was always full of bees. They love it.
16 May, 2009
I love the idea of a swap list!
How would you go about sending them to someone who is willing to swap? I was telling my wife about the idea of a cuttings-swapping group & she wondered how they would be sent & what precautions one would need to take to ensure they arrive intact & - most importantly - alive. I told her that millions of plants are sent out every year & most arrive OK.
20 May, 2009
A swap list is great idea. I have always been enthusiastic about fuchsias. Quite a few years back I joined the Leicester fuchsia society. I swapped many fuchsias with friends (not by post though!) also and ended up with about 40-50 different varieties. As they all grew I soon ran out of space, I gave some to neighbours and friends and only have a few hardy ones left now. I wish I had kept some of the stunners such as 'swingtime' which were very impressive as a full or half standard. I still love fuchsias but now grow many other flowers also.
8 Aug, 2009
Yes will be taking tip cuttings soon and happy to send via post Richard.
9 Aug, 2009
Thanks for that ScotKat I will return the favour.
9 Aug, 2009
Whatever happened to your idea of a swap list? I just found this post again. I took 4 or 5 cuttings each of the 7 varieties I have a day or two ago. I will have to leave them to root on the balcony as there is no room in the flat for more plants. My windowsills are chock-a-block with plants, in some cases up to 3 tiers high!
15 Oct, 2009
Balcony I had pc problems anm dbeen vry busy tending to my ladies gardens .
Sorry but not forgetting.
15 Oct, 2009
I was just curious! I took some cutting myself the other day. Today I put them inside a big plastic bag so they will be protected from the wind.
I also put a big plastic bag around my greenhouse on the balcony. The original plastic cover got torn up by the wind - I used a bag the mattresses had come in nearly two years ago. I always knew I'd find a use for them one day! LOL!
As the bag doesn't cover the front I shall use the 2nd bag but sideways to wrap round the front. I shall have to figure out a way of making it easy to open & close.
16 Oct, 2009
How about clothes pegs balcony.
16 Oct, 2009
That may be a good idea, Kat! I'll give it a go tomorrow & let you know how I get on.
16 Oct, 2009
How did your fuchsia tip cutting s come along Balcony?
29 Aug, 2010
A few have died but others are growing but none of them have really taken off! I'm surprised at my lack of ability to root Fuchsias as I used to do before going to Spain in '82. Then I grew a lot of standards & often rooted the little side shoots with no problem at all! I just put 4 - 6 in a 3" pot & left them to get on with the business of making roots. They were on the windowsill of a spare, unheated bedroom. Perhaps there lies the secret of my success!
But some have spent over a year in clay pots on my balcony railing. I only took them off the railings in the really cold spells we had but they still remained on the balcony in the plastic greenhouse I mentioned further up. I only seem to have lost 1 plant of the 10 I had but none of the others are doing very well at all.m For one thing they all have red edging to their leaves. A couple have begun to flower but they are poor looking plants! :-(
One is Dollar Princess, of which I have a couple. Another is Beacon, from a cutting this year.
The 2 Beacon standards have done very badly this year, they are hardly clinging onto life. I started them off as cutting at least 6 or 7 years ago. They began the season looking very well & they were flowering very well but then they started looking sad & one I thought I was killing it from overwatering so I let it dry out to the point of wilting. It then seemed to make a recovery once I started watering again but it has since gone backwards again. :-(
29 Aug, 2010
"How about clothes pegs balcony"
I took up your idea & it worked well, thank you! :-) Sorry I didn't thank you months ago, I clean forgot.
29 Aug, 2010
Balcony I was 'nt looking for thanks I had forgoten to ,had just rembered myself.
29 Aug, 2010
I imagine you weren't looking for thanks but seeing your message I thought I owed you thanks for a good idea anyway :-)
29 Aug, 2010
Recent posts by Scotkat
- Well we have come to the end of our first week inthe Western Isles
19 Aug, 2016
- Italian Gardens Glamis Castle
9 Aug, 2016
- Part 3 Glamis Castle Walled Garden
9 Aug, 2016
- Part 2 Glamis Walled Garden 2016
9 Aug, 2016
- Glamis Castle Walled GardenPart 1
9 Aug, 2016
- Been another windy day
8 Aug, 2016
Members who like this blog
Gardening with friends since
29 Mar, 2008
Gardening with friends since
4 Apr, 2009
Gardening with friends since
1 Aug, 2009


text:
Home :: Wedding Bands :: Gold Wedding Bands :: Celtic Wedding Bands :: Two Tone Gold
Celtic Design
Wedding Band
Product Selection
Jonathan's Miracle
Had it not been for Jonathan, (Joshua's son), my now-husband and I may not have made it to the altar. Perhaps a bit of an exaggeration, but not by much....
Benchmark Titanium Stylish Wedding Band 6mm TI560
Excellent service. The ring was so much better than I expected. Can't wait to put it on and never take it off.
Not to mention this was the best deal our...
Thanks a bunch.
Thanks for the ring. It looked better when I got it then it did online. My soon to be wife loves it. The price was great and the Rings were too. I Gore...
Recently Viewed
Copyright © 2016 Joshua's Jewelry. Powered by WSC Cart


text:
Narrow Your Search
Keyword [x]
Electronics[x] Clear
Sub Category
SmartPhones/PDA Phones[x] Clear
Price [x] [x]
Zip [x]
Seller Type
Ad Type
For Sale [x] Clear
Sandy, UT
Electronics > SmartPhones/PDA Phones
256 Gigs Samsung SD Card
Salt Lake City, UT | 8 Days
I just got this amazing SD card but unfortunately I have to sell it because I got an iPhone 7 as a gift . This SD card works with Galaxy s7, edge 7 an more...
iPhone 5c - Used (Very Good Condition)
Sandy, UT | 9 Days
Excellent price and great condition! This is a pre-owned white iPhone 5c with 16GB of storage and in very good condition. This phone was purchased n more...
38 mm Ivory / Rose Gold Apple Watch
Lindon, UT | 9 Days
Ivory / Rose Gold Apple Watch. No scratches. 38mm. Comes with charging cable and combination watch / phone charging stand. Text only please.
$400 OBO iPhone 6 128gb Space gray (T-Mobile)
South Jordan, UT | 9 Days
$400 OBI iPhone 6 128gb Space gray (T-Mobile) I'm selling my phone because I upgraded. This phone is in excellent shape. Text Rob @ 801-420-88 more...
Samsung Gear S2
Sandy, UT | 9 Days
Like new Gear S2. GPS, CDMA capable on the Verizon network. It has a screen protector on it and a NIB spare protectior. It also comes with 3 charging more...
Unlocked HTC ONE M8 Great Condition
Salt Lake City, UT | 10 Days
This was originally a Tmobile HTC One, before I paid off phone and received an unlock code. It will now work on many carriers besides Tmobile, includ more...
Iphone 4S with case
Woods Cross, UT | 10 Days
Used iPhone 4S 16 GB used to work with the AT&T network. Comes with Urban Armor Gear Case and Otter Box Case. Screen and everything work just fi more...
I Phone 6s Plus Rose Gold 64 Gb AT&T
Bountiful, UT | 10 Days
Excellent condition... no scratches or scuffs... comes in original box with sealed ear pods and charger.... also comes with case
iPhone 6 64GB black MINT CONDITION with Apple Case
Orem, UT | 10 Days
iPhone 6 space gray (black) 64gb. Carrier is At&t. Phone is in flawless condition, No scratches, dings, dents or other blemishes. Works perfec more...
Samsung Galaxy S6 Edge phone and Gear S2 watch
Bountiful, UT | 11 Days
Brand New, never used, only out of box for the attached picture! I won this Galaxy S6 Edge smart phone and the Gear S2 watch too go with it at an AT& more...
64 GB iphone 6 GOLD - Software Broken
Salt Lake City, UT | 11 Days
I have this iphone 6 that is stuck in a reboot cycle and I can't fix it. I've tried to restore it to factory settings to see if that fixes more...
Gold iPhone 5
Pleasant Grove, UT | 11 Days
Gold iPhone 5 in near perfect condition! Has some small nicks on the back and minimal signs of wear. Screen is in perfect shape and has never been cr more...
Auto Parts and Accessories»
Baby »
Books and Media»
Clothing and Apparel»
Hunting and Fishing»
For Trade or Barter»
Home and Garden»
Other Real Estate»
Outdoors and Sporting»
Pets and Livestock»
Recreational Vehicles»
Most Viewed
1. Search suspended for missing daughter of one ...
2. Mom holds separated twin for first time
3. Tour bus slams into truck on slowed-down ...
4. 25-year-old man killed in crash on SR-191
5. Toddler dies in Spokane fire, his dog ...
6. Arizona woman is on a mission to educate ...
7. Deer hunting season officially underway in ...
8. Deadlines, rules and requirements: What Utah ...
9. Salt Lake City earmarks nearly $30 million ...
10. Man dies from injuries after he was shot at ...
1. Alta alum Ohai scores fastest goal in ...
2. SportsBeat: Breaking down Joe Williams' ...
3. Annual fireside at prison chance for BYU ...
4. Pac-12 Week 8 ends with record-setting ...
5. Roldan helps Sounders beat RSL 2-1, clinch ...
6. Derrick Favors back to practice, and more ...
7. Utah moves up to No. 17 in AP, No. 16 in ...
8. Grading Utah State's first Mountain West ...
9. Utah State pumped after snapping 3-game ...
10. Utah State pulls away to beat Fresno State ...
Site Index
KSL's Children's Television Programming Reports, as well as its FCC public inspection file, are available for viewing during regular office hours at the KSL Broadcast House or online.
The station representative who can assist a person with disabilities with issues related to the content of the public files is Mike Dowdle, available during regular office hours at firstname.lastname@example.com and (801) 575-5555.
The station representative who can assist a person with disabilities with issues related to the content of the public files is Mike Dowdle, available during regular office hours at firstname.lastname@example.com and (801) 575-5555.
© 2016 ksl.com | KSL Broadcasting Salt Lake City UT | Site hosted & managed by Deseret Digital Media - a Deseret Media Company v22


text:
Erik K. Hobbie, Department of Physics, Department of Coatings and Polymeric Materials, Graduate Program in Materials and Nanotechnology - North Dakota State University Fargo, ND 58108 Thin films of single-wall carbon nanotubes (SWCNTs) show considerable promise for applications in flexible electronics, but the deformation mechanics of such films is potentially complex. Additionally, the most promising applications place stringent demands on nanotube purity and band structure.
Intended for all sophomores and juniors interested in honors.
Gordana Vunjak-Novakovic, Ph.D Mikati Professor of Biomedical Engineering Professor of Medical Sciences Columbia University Tissue engineering is becoming increasingly successful at authentic representation of the actual environmental milieu of tissue development, regeneration and disease. A classical paradigm of tissue engineering is to grow tissues for implantation by using human stem cells, biomaterial scaffolds (templates for tissue formation) and bioreactors (culture systems providing environmental control, molecular and physical signaling).
Join us for a conversation with John Hazen White, Jr., a Rhode Island business leader dedicated to improving the state's business and political climate. White is president of Taco, Inc., a third-generation, $200 million manufacturing company headquartered in Cranston, Rhode Island. Taco, which employs 500 people, is a world-class manufacturer of pumps, valves, tanks, electric controls and other components used in heating and cooling applications and is a leader in its industry.
Join us for a lecture on 'Innovation in Cardiovascular Technologoies' as well as a discussion on entrepreneurship and career paths in medical technology. Stan Rowe is Chief Scientific Officer at Edwards Lifesciences.
Need funding for an unpaid summer internship? LINK/SEW awards provide financial assistance to students pursuing unpaid or low-paying summer internships and are administered by CareerLAB. These awards allow students to explore career options and engage in experiential learning activities outside the classroom. This session will cover all of the logistics about applying to the LINK program including deadlines, internship eligibility, and tips for creating a successful application. There will also be time for questions.
Dean in the Lobby Tuesdays, 4:30 p.m. -5:30 p.m. Barus & Holley Lobby Join Senior Associate Dean Rod Beresford every Tuesday during the academic year in the lobby of Barus & Holley for open office hours. He will discuss issues, answer questions, listen to suggestions or complaints about the School of Engineering, engineering classes, labs, facilities, etc.
Mind Brain Research Day 2015 10:30 AM-3PM Salomon Hall and Sayles Hall Brown University -Keynote Speaker Richard Axel, MD, University Professor, Columbia University Co-director, The Mind Brain ...
Spring Recess
The Division of Applied Mathematics, Scientific Computing Seminar Xiong Meng, University of East Anglia Optimal error estimates for discontinuous Galerkin methods based on upwind-biased fluxes for linear hyperbolic equations In this talk, we will analyze discontinuous Galerkin methods using upwind-biased numerical fluxes for time-dependent linear conservation laws. In one dimension, optimal a priori error estimates of order are obtained for the semidiscrete scheme when piecewise polynomials of degree at most are used.
Join Materials Engineering faculty and the Brown Materials Research Society to learn more about the program at Brown, and what you can do as a materials engineer. Professors Chason and Padture will ...
Yonggang Huang , Department of Civil and Environmental Engineering and Department of Mechanical Engineering, Northwestern University
The Division of Applied Mathematics, Lefschetz Center for Dynamical Systems Seminar Roger Brockett, Harvard University The Equation and various applications See Event URL for Abstract
This 3/14/15 join Brown University NSBE for some entertaining activities to celebrate our favorite mathematical constant! Pie-eating, Pi-zza, and all your favorite Pi-related activities will be there. Join us on 3/14/15 outside MacMillan Hall across from the Sciences Library.
The launch of the Summer Breakthrough Lab (B-Lab) for Brown students, an eight-week experiential, immersive pilot program in entrepreneurial innovation. Beginning in mid June, the Summer B-Lab will provide funding and guidance to undergraduate and graduate student teams who wish to develop and launch innovative ventures.
Lawrence J. Pratt Senior Scientist Physical Oceanography Woods Hole Oceanographic Institution Woods Hole, MA Chaotic Stirring in a Simple Model of a 3D Eddy My talk will explore the process of chaotic advection and its role in the stirring and mixing of three-dimensional flows in the ocean and atmosphere. I will examine an eddy-like circulation with a vertical overturning component. This flow shares some basic features with ocean eddies that have upwelling/downwelling circulations, convection cells and hurricanes.
Interested in learning about all the engineering concentrations from current upperclassmen?
Come to BH 190 on Monday, March 9th at 6 PM and get the chance to ask representatives from all concentrations questions about courses, job/internship opportunities, or their experiences in general.
Pizza and refreshments will be provided!
Abstract: Crack propagation is the dominant mode of mechanical failure of most man-made and naturally occurring materials. Understanding this phenomenon poses a number of challenges. Crack propagation is a truly multiscale phenomenon with no clear separation of scale between atomic and continuum scales. Consequently, how to formulate equations of motion for cracks is still an open question.
The Division of Applied Mathematics, Lefschetz Center for Dynamical Systems Seminar Keith Promislow, Michigan State University Network Formation in Amphiphilic Polymer Materials See Event URL for ...
Edward Steinfeld, The Watson Institute, will discuss "Developing Energy Technology for a Sustainable Future: Is China the Problem or the Solution".
Division of Applied Mathematics, Partial Differential Equations Seminar Stefano Bianchini, Penn State Quadratic interaction potential and Lagrangian representation for conservation laws See event ...
"The Hazardous Legacies Project: Towards a Comparative Environmental Sociology of Cities" by Dr. Scott Frickel, Associate Professor of Sociology and Environmental Studies.
The Division of Applied Mathematics, Scientific Computing Seminar Juan Cheng, Institute of Applied Physics and Computational Mathematics, Beijing, China Symmetry-preserving conservative Lagrangian schemes for the compressible Euler equations in two-dimensional cylindrical coordinates See Event URL for Abstract
Are you trying to figure out how to tackle all those upcoming exams? Join Peer Academic Coaches in this workshop aimed to help you better prepare for midterms. Food & drink provided! If you ...
Conor Evans, Ph.D. Assistant Professor of Dermatology Massachusetts Institute of Technology Oxygen plays a profound role in the biology of life. Impaired oxygen delivery has significant consequences, from ischemic injury and chronic wounds to therapeutically resistant carcinoma. A major challenge in assessing the oxygenation of tissues is the fact that oxygen itself is rather difficult to directly detect.
Division of Applied Mathematics, Scientific Computing Seminar Yingda Cheng, Michigan State University L2 stable discontinuous Galerkin methods for one-dimensional two-way wave equations Simulating wave propagation is one of the fundamental problems in scientific computing. In this talk, we consider one-dimensional two-way wave equations, and investigate a family of L2 stable high order discontinuous Galerkin methods, which is defined through a general form of numerical fluxes. For these L2stable methods, we systematically establish stability, error estimates, and dispersion analysis.
Abstract: In this talk, I will present my first-principles calculations on the thermodynamics and kinetics of the Li2MnO3. Although the Li2MnO3 is believed to play an important role in the Li-rich composite materials, promising candidates of Li-ion battery cathode, the material behaviors of the Li2MnO3 have been rarely explained. In particular, the phase transformation of the Li2MnO3 from its layered structure to the spinel-like structure is an urgent issue to be addressed before the commercialization of the Li-rich composite cathode materials.


text:
South Africa closes 16 schools amid gang violence
JOHANNESBURG Education officials in a province in South Africa closed 16 schools, affecting 12,000 students, Thursday in an impoverished area near Cape Town because of a spike in gang violence that has left teachers too afraid to go to work.
Underscoring the level of violence, one man who was identified by fellow members as belonging to a gang called the Americans was shot dead Thursday in an area in Manenberg where many children play. The young mans mother, Aysha Ismail, was distraught as she spoke to The Associated Press by phone soon after seeing her sons body.
My heart is broken because this gang violence must stop, Ismail said through tears. There are nearly a hundred small children playing around in the streets. We need a police patrol here.
Western Cape Premier Helen Zille on Wednesday called for the army to be deployed to the area, an idea that a police spokesman opposed.
South Africas police services have increased their presence in the area recently, said spokeswoman for the Western Cape Education Ministry, Bronagh Casey. However the violence is still affecting schools in the area. A caretaker at one of the schools died after being shot weeks ago, and a stray bullet from gang violence hit a primary school around that time as well, Casey said.
We are closing the schools because our educators say they are unsafe going to the area to report for duty, Casey said, adding that students cannot be left unsupervised. We rely on law enforcement in the area. Our education relies on a stable community in which to operate.
The decision to close the schools came after meetings with the teachers.
Police spokesman Col. Tembinkosi Kinana said the situation in Manenberg is undoubtedly bad as long as people are being killed. He said police personnel have been deployed and there is a strategy in place to combat gang violence.
Zille, who is also leader of the Democratic Alliance party which controls the provincial government, said she had written to President Jacob Zuma, whose African National Congress party controls the federal government, last year asking for troop presence to curb persistent gang violence. She said the Western Cape government has not been approached by the national police to help deal with the problem.
The presence of the army would give the police the space to conduct investigations and ensure gang members responsible for this violence are brought to justice, Zille wrote in an open letter to Police Minister Nathi Mthethwa.
Zweli Mnisi, spokesman for South Africas police minister, said the police are opposed to the idea of deploying the army.
What we require is an integrated approach that involves communities, parents of suspected drug addicts, government, NGOs and all other relevant stake holders, Mnisi told the South African Press Association.MORE IN Wire NewsBEIRUT Syrian government forces and their allies captured strategic high ground Monday in... Full StoryWASHINGTON Liane Golightly has finally decided who shell vote for on Election Day. Full StoryMIAMI Yessica Flores is getting ultrasounds more frequently than the average pregnant woman,... Full Story
- Most Popular
- Most Emailed


text:
Snake Gourd Chichinda - Seeds
( 299 times booked in last 90 days )
The pack contains 5 seed packets of
- Radish F1 Great Long White - Seeds
- Coriander Imported - Seeds
- Cucumber F1 Samber Selection - Seeds
- Methi Kasturi, Fenugreek - Seeds
- Sunflower Large Bloom - Seeds
*Use coupon : NLWKGP
Snake gourd is a climbing herb with tendrils divided into three parts. It has white male and female flowers and cylindrical, slender, tapering fruits with waxy surface. Its fruits are orange in colour when ripe, and pulpy red at maturity. An analysis of Snake gourd shows it to consist of substantial amount of protein, fat, fibre and carbohydrates
Properties :- Snake gourd is useful in restoring the disordered processes of nutrition. It creates a cooling effect in the body. Its leaves are used in indigenous medicine in India. The juice of the fresh leaves is useful in heart disorders like palpitation and pain in the heart on physical exertion. Infusion of the leaves is beneficial in the treatment of jaundice. Other uses of this herb is beneficial to the treatment of fevers, alopecia and heart disorders.


text: Today, Aug 31st we were passing through Willis, TX on our way home to Onalaska, TX and decided to stop at the Chick-fil-A. What a great experience. I couldn't believe we were at a "fast food" place. While the food did arrive fast, it was very good and was delivered to the table by an employee who seemed to really enjoy her job. The place was very clean, including the restrooms. Every employee we encountered was friendly and helpful and always cheerful. \n\nWe were there around 1:00pm and the place was still quite full and I'm sure they had a busy lunch crowd, but all of them were still smiling and cheerful to the customers. I kept wondering, "This is a fast food restaurant?" I have been to many "sit down" restaurants and have not gotten this kind of friendly service.\n\nI wish we had one in our town or at least near it. I hope all Chick-fil-A restaurants are half as good as this one. I would have to visit there every day. Thanks Chick-fil-A, you made my day.\n\nJim W.\n\n


text:
S Class
The Mercedes S-Class is the best luxury car around. It's great to drive, and has all the quality and space you could want. …
The Peugeot 508 falls some way short of the class leaders, but there's still a lot to like.
The 508 is available with four diesel engines. There's a 110bhp 1.6-litre that's up to the job, but the 138bhp 2.0-litre is usefully stronger. In fact, it's so good that there's no point in upgrading to the 161bhp 2.0-litre or the 201bhp 2.2. The two petrol options – a 118bhp 1.6 and a 154bhp 1.6 turbo – make no sense.
The 508's suspension keeps body movements well controlled, while the steering is responsive, if not exactly full of feel. GT versions are sharper still, thanks to a more sophisticated front suspension setup. Unfortunately, the ride is firm and unsettled at all speeds, whichever 508 you choose.
All of the engines we've driven so far have been smooth when worked and unobtrusive at speed, and road noise isn't a problem either. Unfortunately, you can hear the suspension working on poor roads, and there's a fair bit of wind noise on the motorway.
Obtain a FREE used car valuation for any vehicle.
Norton Way Peugeot
Letchworth SG6 1NT
Official fuel economy figure
67.3-74.3 mpg
Official emissions rating
102-99 g/km
How much will it cost you?
How much space is there?
473 litres
Get an up-to-date value for any used car.
We'll try to get you the best deal for your money with our 60-second car finance checker.
Ready to buy or want to see what's available for your budget? Check out the best new car lease deals here.
|Starting from
|Target price
|What Car? rating
Audi A4
Skoda Superb
BMW 3 Series
Jaguar XF
Mercedes-Benz C Class
Jaguar XE
BMW 5 Series
Audi A6
Audi A3
Volkswagen Passat
Vauxhall Insignia
Ford Mondeo
The Mercedes S-Class is the best luxury car around. It's great to drive, and has all the quality and space you could want. …
The Jaguar XJ is the driver's choice among luxury saloons. However, it could be more spacious, and cabin quality trails its rivals. …
The brilliant Audi A4 blends comfort, refinement and performance, and will appeal to those who want a relaxed and peaceful driving experience. …
If you choose the right version and add the right options, the BMW 3 Series is still one of the best executive cars around. …


text:
Click on an icon above to learn about projects on that road.
I-4 east of Orient Road (November 2001)
© Aerial Innovations, Inc. (11/13/01 photo)
Looking east at the I-4/Orient Road interchange. Work has been completed here since the photo was taken. Orient Road is at the bottom of the photo and the eastbound U.S. 92 bridge over I-4 is at the top.
View all photos from this project
Traffic pattern changes on southbound I-75 near SR 52
Posted 10/26/2016 7:00:00 AM
State Road 52 to be closed at I-75 at night
Posted 10/26/2016
Day and night lane closures on SR 50 in the I-75 area
Posted 10/24/2016


text:
Discover a selection of top forums situation! reserves on the internet. Come to share your passion on forums situation! reserves and meet other fans of situation! reserves. Then, why don't you create your own forum of situation! reserves ?
When using our service here at Date Searcher you are to only post TRUE information, not your opinions of a situation. Our service is to help both men and women.
date, searcher, saves, heart, ache, abuse, when, using, service, here, only, post, true, information, your, opinions, situation
Inside of situation by yourself are and straighten hair that is curly, a keratin straightening process is merely what your self need to have.
style, life, magazine, situation, straighten, hair, curly, keratin, straightening, process


text:
As an Authorised BMW Motorrad Retailer, we offer the highest levels of service and expertise whether you are looking to buy a new bike or maintain your current bike. Call us on 01752 202828.
Learn to ride with us & after passing your test, get your own gear and a brand new BMW F 800 R.Find out more
Pack your bags and embark on a journey into the unknown. BMW R 1200 GS & GS Adventure now come with 3.9% APR.
* T&Cs Apply.
To celebrate Ocean will be holding a launch event this Saturday and invite all our customers to join us at your local branch to check out the new model and make the most of our exclusive launch weekend offers.Scrambler Launch Event
We've put together our most popular accessories, these packages make it even easier to conquer any adventure.Accessory Packages
BMW Motorrad UK has created four exclusive models - the Iconic 100 Collection - to mark the centenary of BMW Group in 2016. Each is strictly limited to 100 motorcycles.Find Out More
BMW Motorrad presents the new BMW R nineT Scrambler, a motorcycle which revives the Scrambler era in a very special way. It has everything that defines this motorcycle type, filled with a very distinct spirit and created for motorcycle fans who love things that are purist, reduced to the essentials and non-conformist - combined with the technology and quality of a BMW. Together with the R nineT Roadster, the BMW Scrambler establishes the new BMW Motorrad Heritage world of experience.Read More
BMW are proud to announce two new heritage models, the R nineT Racer and R nineT Pure. Unveiled at Intermot Motorcycle Show in Cologne, both models are set to delight current and new customers alike.Find out more
The BMW S 1000 R is the model from the four-cylinder S Model range that has been given the most significant changes with not only engine enhancements but a new chassis for 2017.
BMW shook up the world of the 1000cc superbike class when it launched the S 1000 RR back in 2009 and as each new model has been updated the bike has just got better and better.
RT @wearemotofire: BMW take the game to Harley & Indian with the K1600 B https://t.co/AC3Ay1sbUv @BMWMotorradUK https://t.co/cIJd8BEFYD
RT @OilySmudges: There's something very appealing about the simplicity in the design of this 1954 BMW R35 https://t.co/1YaabBXFJC
It's #ScramblerSunday. What's your dream version? https://t.co/2p5npS8FLN
RT @bennetts_bike: TESTED: We ride @tweethutchy's record breaking Superstock TT bike at Jerez. Full story at Bike Social: https://t.co/jbDk…
RT @BaronVonGrumble: It was a while ago... but SLOVAKIA track video just dropped on the HP4!: https://t.co/Ywn0hiutKo https://t.co/bfjsWAay…
RT @wardie65: #BSB Rd 12 @christianiddon @MichaelLaverty @TycoBMW @BMWMotorradUK @BMWMotorrad @TycoSecurityPro @TycoSecProTech @OxfordProdu…
Congratulations to Mr Green who recently collected his R2100RT from Ocean Falmouth. We hope you enjoy your new bike.
RT @offroadskills: FINAL CALL for our Brecon Beacons Adventure, 25th/26th October with @bahnstormerbmw. Call them on +44 1420 587007 to get…
RT @bennetts_bike: Bike Social's @marcpotter is testing BMW's race bikes (WSB/SSTK/TT/EWC) today at Jerez. Lucky git. ✊🏻 https://t.co/TzgvM…
Congratulations to Mr Emery who collected his R1200GS Adventure Triple Black from Ocean Falmouth along with some other m...
The final @OfficialBSB round of the year certainly didn't disappoint: https://t.co/KnW28jOJvo https://t.co/rTBJi7Ag8a
Good luck in the final race to all the BMW riders at Brands Hatch!! Hoping to get underway shortly #BrandsBSB https://t.co/JZXx70ASoi
Last race of the year underway! @kiyonariryuichi and @christianiddon in the podium hunt already. https://t.co/ocqvrq20lR
A tough race, but one more @OfficialBSB contest left to end the year on a high at Brands Hatch.
Heartbreak! @christianiddon looking set for another podium but his @TycoBMW has encountered a technical problem! #BSBShowdown
A couple of big slides, but a well deserved second place for @christianiddon at Brands! Hopefully a little warmer t… https://t.co/MCqoBu2G1q
Congratulations to Mr Cross who collected his new top spec BMW R1200GS Triple Black with added Akraprovic sports exhaust...
Following the success of last year's trip, Ocean will be running a coach trip to Motorcycle Live again for 2016's event ...
Congratulations to Ocean Falmouth customer Mr Walker on collecting his new F800GT SE from Greg at the weekend. We hope y...


text:
Edit your search:(X) Riverton, WV
Yes (amount not posted) Draw against commission At least $10,000 At least $20,000 At least $40,000 At least $60,000 At least $80,000 At least $100,000
- Advertising Sales Jobs
- Automotive Sales Jobs
- Communications Sales Jobs
- Computer Sales Jobs
- Engineering Sales Jobs
- Entertainment Sales Jobs
- Financial Sales Jobs
- Food and Beverage Sales Jobs
- Healthcare Sales Jobs
- Industrial Sales Jobs
- Information Management Sales Jobs
- Insurance Sales Jobs
- Internet Sales Jobs
- Manufacturing Sales Jobs
- Media Sales Jobs
- Medical Sales Jobs
- Merchandise Sales Jobs
- Office Automation Sales Jobs
- Pharmaceutical Sales Jobs
- Printing Sales Jobs
- Professional Services Sales Jobs
- Publication Sales Jobs
- Real Estate Sales Jobs
- Retail Sales Sales Jobs
- Sales Recruter Sales Jobs
- Sales Trainer Sales Jobs
- Security Sales Jobs
- Software Sales Jobs
- Technical Sales Jobs
- Tele Equipment Sales Jobs
- Travel Sales Jobs
Sales Jobs in Riverton, WV
Riverton Sales Jobs in West Virginia
Now Viewing 1-9 of 9 Jobs
Sort By:
Real Estate Investor Students (work from home)
Carter-Brinley Group - Riverton, WV
Real Estate Investor Trainee (work from home) Nationwide Real Estate Investors Group is looking to expand their Wholesale, Buy & Hold, and Lending operations, looking for experienced or INEXPERIENCED people interested in LEARNING first and applying after. We offer study groups, workshops ...
Posted: 2016-09-20 | Industry: 100% Commission | Base Salary: 100% commission
Real Estate Entrepreneur & Sales Pros
Carter-Brinley Group - Riverton, WV
The Carter-Brinley Group is a firm of real estate investors and marketers who are looking to change lives. We are looking for entrepreneurial individuals who are willing and able to attend the Real Estate College Online*. The delivery of the curriculum is similar to the University of Phoenix onli ...
Posted: 2016-10-15 | Industry: 100% Commission | Base Salary: 100% commission
Outbound Sales Work from Home
NexRep - Riverton, WV
NexRep Outbound Sales Work from Home You are calling back customers who are interested in a product but did not make a purchase on the initial call. You will be reading from scripts that describe the product and gives the customer more incentive to purchase with you by presenting a better offer ...
Posted: 2016-10-22 | Industry: Work from Home | Base Salary: Yes (amount not posted)
Looking for EXPERIENCED and DEDICATED Advertising SALES p ...
InMotion Media - Riverton, WV
We are looking to add EXPERIENCED and DEDICATED advertising SALES professionals to our successful team. What we are looking for: Sales professionals who are dedicated and looking to commit full time hours to our products. A professional who can be relied upon to work hard, find leads, build yo ...
Posted: 2015-11-10 | Industry: Advertising | Base Salary: 100% commission
Retail Sales Representative II
Apex Systems - Riverton, WV
Job Description Job #: 681994 Position: Retail Sales Representative II Location: Harrisonburg, VA 22801 Duration: 4 month contract with extension Pay: $10/hr Job Description: Develops new prospects and interacts with existing customers to increase sales of an organizations products and/or service ...
Posted: 2016-10-19 | Industry: Publication | Base Salary: Yes (amount not posted)
Target Stores - Harrisonburg, VA
Description: Want to work with a team that has fun every day by helping guests and making them happy. Offering a fast checkout and genuine interaction with every guest by being friendly and respectful. Be empowered to make decisions and resolve guest concerns in a courteous, helpful manner. Educa ...
Posted: 2016-10-24 | Industry: Publication | Base Salary: Yes (amount not posted)
Retail Wireless Sales Consultant
Go Wireless - Staunton, VA
Description GOWIRELESS Looking for a rewarding sales opportunity? Like to be rewarded for your efforts? How about an uncapped earning potential? GoWireless has it all. We are offering retail sales professionals an exciting opportunity to become a valued member of our successful sales force and gr ...
Posted: 2016-10-20 | Industry: Publication | Base Salary: Yes (amount not posted)
Auto Sales Staunton VA
Paul Obaugh Ford - Staunton, VA
PAUL OBAUGH FORD WE ARE EXPANDING OUR SALES TEAM. GET STARTED RIGHT AWAY WITH A GUARANTEED STARTING SALARY PLUS COMMISION. ***IMMEDIATE FULL TIME POSITIONS AVAILABLE. WE OFFER The most aggressive Pay Plan in the Auto Industry GUARANTEED SALARY PLUS COMMISION while Training No Auto Experience Nece ...
Posted: 2016-10-19 | Industry: Publication | Base Salary: Yes (amount not posted)
Insurance Sales Representaive / Agent - Licensed (Oakland ...
Facial Shield - Oakland, MD
seeking for a license insurance sales rep / broker position that will be a great opportunity for YOU! A new and innovative medical insurance product. We work in a friendly and supportive business regional and national opportunities description Develop and follow-up on sales leads through daily te ...
Posted: 2016-10-20 | Industry: Publication | Base Salary: Yes (amount not posted)


text:
I adore this!! stunning work!
Thank You. I swear he was posing for it after a while
aw – so he's not so innocent then eh? :]
He's a lil sod but brilliant
aw what's his name?
He's called simba, like out of the Lion King as he had the same innocent face
10% off
for joining the Redbubble mailing list
Receive exclusive deals and awesome artist news and content right to your inbox.
Free for your convenience.