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Here are a list of recipes with step by step procedures and pictures for breakfast, lunch, dinner, and dessert for those who want to eat healthy and don't care about looks. In particular, for the single men who don't know how to cook, there are a few recipes below to choose which are really easy such as finger jello for dessert. Moreover, learning how to cook is preparation in case someone special suddenly appears in your life.
Before I introduce to the recipes below, I like to mention kitchen safety. Read and follow instructions and safety guidelines when using kitchen appliances. And there is nothing more important than a fire extinguisher nearby in case of fire.
French Toast
Scrambled Eggs
Bake Chicken or Roasted Chicken
Fillet Of Sole
House Chicken (Includes Cutting Ginger To Pieces)
Soy Sauce Chicken
Season All Spiced Chicken
Spiced Salt Chicken
Bok Choy
Bok Choy Version 2
Chinese Broccoli
Chinese Cabbage
Corn On The Cob
Green Beans
Mashed Potatoes
Sugar Snaps
Yao Choy
1000 (Thousand) Island Dressing


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Community invited to discuss fire, EMS regionalization
ARLINGTON — Arlington Fire Chief Bruce Stedman is inviting the community to attend a special meeting of the Arlington City Council to discuss the results of a study that was commissioned to explore how fire and emergency medical services in North Snohomish County might work together in the future.
The Byrnes Performing Arts Center at Arlington High School will serve as the site of the special City Council meeting on Wednesday, July 31, starting at 6 p.m. Firefighters from Arlington, Arlington Heights, Silvana, Lakewood, Marysville, Getchell and Tulalip Bay were among those representing 14 fire districts at a previous special meeting at the PAC on Aug. 30 of last year to discuss the future of fire and EMS in Arlington and North Snohomish County as a whole.
The Arlington City Council voted unanimously on Dec. 17 of last year for the city of Arlington to take part in the joint regional fire services cooperative effort study, along with half a dozen other agencies, following Stedman's recommendation of the proposed study by ESCI, an international consulting firm that specializes in emergency services cooperative effort studies. The goal of the study was to identify critical issues facing Arlington and other agencies in their ongoing mission to provide fire and emergency medical services to their citizens. To that end, the study has focused on Arlington and other fire and EMS agencies' current service levels, strengths, weaknesses, and opportunities for cooperative efforts with regional agencies.
"At this point, the seven fire chiefs are confirming facts in the report and will be returning the document to ESCI on July 24," Stedman said. "I don't think it would be appropriate to share what's in the report until after the policy makers have had a chance to see it, which will be on July 31."
The Arlington and Arlington Rural fire and EMS agencies were joined in participating in this study by similar agencies from Darrington, Silvana, Tulalip Bay, Camano Island and the North County Regional Fire Authority. Of the total cost of $76,062.92 to fund the study, Arlington is funding $13,746.55, or approximately 18.05 percent of that total.
"We were fortunate that our friends in North County agreed to participate," said Arlington City Administrator Allen Johnson, referencing the somewhat more expensive $14,018.41 price tag that Arlington would have had to pay if the North County Regional Fire Authority had not taken part. "The formula for how much each agency paid was based on its population, square miles and assessed property value, which seems to be the fairest way to do it. I'm personally delighted with these numbers. I would have thought that the amount we would have to pay would be much higher."
ESCI developed a work plan and scheduled site visits with all the participating agencies in time for all of their contracts to be signed on Jan. 15 of this year, at which point ESCI issued agency information request forms to all its clients. From there, ESCI began its site visits on Feb. 15, and had forecast that it would complete its feasibility study by Aug. 15.
"A summer time frame for a study like this is very prompt," Johnson said.
The Byrnes Performing Arts Center is located at 18821 Crown Ridge Blvd. in Arlington, and doors open at 5 p.m. for the July 31 meeting.
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A Schenectady woman was sentenced Tuesday to more than three years in prison for a check-writing and tax-return scam that netted more than $87,000 from the U.S. Internal Revenue Service. Prosecutors argued for a harsher sentence, saying that she has shown no intention of following the law, while her defense argued for a lighter sentence, saying her scam wasn't sophisticated and didn't hurt anyone. In U.S. District Court in Albany on Tuesday, Chief U.S. District ...
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Alternative World: A Code of Ethics, Behaviors, Attitudes, and Understandingsby Oliver Wasow
The great thing about being asked to envision any kind of idealized social construct is that the petty annoyances and obstacles presented by human egos and material pragmatics can be ignored. With that in mind, a code of ethics, behaviors, attitudes, and understandings that will govern my perfect little world follows.
Making things will be considered no more or less important than organizing and distributing them; both activities will be called "art."
There will be no individual s' names attached to works of art; works will be known only by their titles, not their authors.
The audience will determine titles for themselves.
Art will be recognized as an ongoing and never-ending series of amendments, confirmations, refutations, and enhancements.
No work of art will ever be considered finished.
Vandalism will be neither encouraged nor discouraged, the word will have no meaning.
People won't take a work of art out of circulation unless they put one back in.
Sharing will be considered a moral imperative and trading things will be done without negotiation.
Museums will be dynamic social institutions of constant creative activity and change.
Museums will have no storage facilities.
Institutions will not departmentalize art.
Art will never be blamed for anything.
Art critics will only write in the first person.
Preferences will be understood to be ever shifting and changing one's mind will be regarded a virtue.
No one will ever say, "That's been done."
Interpersonal relationships between sentient beings will be called "life." Relationships between sentient beings and everything else will be called "art."
Art will never be mistaken for life; art will be considered a part of life.
Everyone will be a collector.
Everyone will be a curator.
Everyone will be an artist.
Laziness will not be considered a vice.
Art will be a verb.
ContributorOliver Wasow
OLIVER WASOW is a photographer currently living and working in Rhinebeck, NY.
City of Exceptionby Dustin Illingworth
MAY 2015 | Books
Part shaggy intellectual ruin, part holy text of urban theology, the German cultural critic Walter Benjamins unfinished magnum opus The Arcades Projecta kaleidoscopic study of 19th-century Parisian city lifeis perhaps best read as a kind of cipher or secret code wherein the metropolis itself is revealed to be the critical document of modernity.
IDA APPLEBROOG The Ethics of Desireby Ashton Cooper
JUNE 2015 | ArtSeen
Ida Applebroogs third show with Hauser & Wirth, The Ethics of Desire, is titled after a concern at the heart of Platos Symposiumhow desires form the contours of our lives.
"I'll take a picture of you, do you want to hide behind the code?"
by Jarrett Earnest
Michael Riedel and Jarrett Earnest at the American Museum of Natural History
APR 2016 | Art
For his current show at David Zwirner, Riedel exhibits appropriated images of dinosaur skeletons blown up, rotated, and draped in vinyl stickers of a Dick Blick Art Supplies bag. The walls are pasted with a texture coaxed from overlays of website texts using information for art material as material for doing art. Riedel admitted that he thought it was a misunderstanding when I asked him to do our interview at the American Museum of Natural History ("My work isn't about dinosaurs") but he showed up anyway.
by Joyce Beckenstein
Curated by Sasha Rudensky and Jeffrey Schiff
MAR 2015 | ArtSeen
The 10 artists featured in Picture/Thing, an exhibition exploring the relationships between photography and sculpture, unleash art historys most beguiling trickster: The Photograph.


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The beautiful Shoal Crossing Event Center is now closed. If you loved the contemporary yet classic facility with an open, stylish interior you will love our new Sterling Event Center!
Please go to www.sterlingeventsaustin.com to visit our new property and see all of the amenities available at the new Sterling Event Center.


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Our Best Casserole Recipes: 19 Quick & Easy Casseroles to Try
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Leftover Roast Beef Hash
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Need a new use for leftover roast beef? Forget about sandwiches and try this delicious leftover roast beef hash recipe. It combines delicious beef with mushrooms, onions, potatoes and more in a tasty casserole.
- 2 cups cooked roast beef, cut into 1/2-inch cubes
- 2 cups raw potato, cut into 1/2-inch cubes
- 3/4 cup chopped onion
- 1/4 cup chopped fresh parsley
- 6 ounces sliced fresh mushrooms
- 1 teaspoon dried thyme
- Salt and freshly ground pepper to taste
- 1 1/2 cup gravy
- Mix all ingredients together in large oven casserole dish.
- Bake, covered in 350 degree F oven about 1 hour, until bubbly and potatoes are cooked.
Like this casserole recipe? It was featured in 16 Brand New Easy Casserole Recipes To Try, check it out for more amazing and easy casserole recipes.
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Master Editor
Jan 12, 2011
Hello otish13 4849967, Thanks for the great suggestions! Also Member 19951, It's really up to you which gravy, but what makes sense is a beef gravy. You can also add a little flour and water (like the other commenter suggested) Hope that helps. Thanks!
otish13 4849967
Jan 12, 2011
I brown-off,3/4 cup of flour w/a cup and half of water,plus a tbsp of worchestershire sauce,too give it that special kick.And those of you ,that can use Accent shake just a little and it'll be a very good cassorole,either way.I just love roast beef hash.
Member 19951
Jan 12, 2011
What type of gravy are you referring to?
Mar 11, 2010
we add a little water and flour to ours for the gravy. Not sure what gravy they are talking about! We also do ours in a skillet. Just as good!
Mar 10, 2010
I make my hash like this, but to me a secret ingredient to add is Worchestershire sauce. Add so much to the flavor of hash. Give it a try ! ! !
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text:
Breaking Through
Release Date: January 1st, 1996
Not Yet Rated|1 hr. 37 min.
Plot Summary
A social worker (JoBeth Williams) teaches sign language to a deaf girl (Kellie Martin) who escaped from an abusive father.
Cast: JoBeth Williams, Kellie Martin, S. Epatha Merkerson, Aaron Kubey, Thomas Kopache, Billy Jayne, Donna Bullock, Jennifer Delora
Genres: Docudrama


text:
What is Radical Social Work and
How is it Relevant to your Community Today?
Essay Contest sponsored by Journal of Progressive Human Services
The Editorial Collective of the Journal of Progressive Human Services: Radical Thought and Practice (JPHS) wishes to ignite a discussion among our student readers about the activities, ideas, and policies that define, or should define, radical social work in today's economic, political, and social contexts. What are the particular challenges to, and opportunities for, radical practice, in your community?
Toward that end, JPHS is funding an essay contest for all three levels of study in social work– BSW, MSW, and DSW/PhD– with a cash award of $1000.00 for one winning essay in each category of student. In addition, JPHS will also publish the 3 winning essays in our internationally-subscribed journal.
Essays should be between 1000-1500 words and respond to the question "What is radical social work, and how is it relevant to your community today?" If you cite the literature, please use APA format for citations and references. Please contact Elisa Orme with any questions at email@example.com.
Please submit your essay as a word document attached to an email addressed to firstname.lastname@example.com by March 31th. Please put "Essay for JPHS Submission" in the subject line of your email. In the body of the email please include your name and preferred email address. Do not include your name on your essay so that we can do a blind review. Winners will be notified by May 15.
Human Rights Practice Dilemmas … Coming Soon
Mark your Calendars
End Poverty Now! March for Economic Justice at
the Republican National Convention
July 18, 2016
Cleveland, OH
March for our Lives at the Democratic National Convention
July 25th at 3:00pm
Philadelphia, PA
Member in the Spotlight
If you'd like to be a member in the spotlight, contribute to the website, or share some of your work, please email Jennifer R. Jewel at firstname.lastname@example.com for more details!


text:
Newcastle Investment Corp. (NYSE:NCT)
Acquisition of Dow Jones Local Media Group Conference Call
September 04, 2013 2:30 PM ET
Sarah Watterson – Director of Investor Relations
Wesley R. Edens – Chairman
Jonathan R. Brown – Interim Chief Financial Officer and Principal Accounting Officer
Andrew White – Managing Director
Kenneth M. Riis – President, Chief Executive Officer & Director
Michael E. Reed – Dow Jones Local Media Group
Douglas Harter – Credit Suisse
Jason M. Stewart – Compass Point Research & Trading, LLC
Matthew Howlett – UBS Securities LLC
Steve J. Errico – Locust Wood Capital Advisers LLC
Good afternoon. My name is Jasmine and I will be your conference operator today. At this time, I would like to welcome everyone to the Newcastle Update Conference Call. All lines have been placed on mute to prevent any background noise. After the speaker's remarks, there will be a question-and-answer session. [Operator Instructions]. Thank you. Ms. Waterson you may begin your conference.
Sarah Waterson
Thank you, Jasmine. And welcome everyone, thank you for joining us on short notice for this Investor Update Call. I want to make sure that you had a chance to check out on our website. On our Investor Relations section we've posted a presentation with materials related to what we'll be speaking about today. And with me I have Wes Edens; I have Ken Riis; I have Jon Brown; and I have Andrew White.
I'd like turn the call over to Wes now.
Wesley R. Edens
Great. Thanks Sarah and thank you everyone for dialing in on a short notice. It's pre-holiday night. I wanted to give an update to a transaction, which we announced on market before the open of business this morning and to give you some color as to both around the transaction itself the spin of adding to a new company. So at the end of the day, probably the next 60 days to 90 days or so every Newcastle shareholder will now be a shareholder in both Newcastle as well as the spin company, which is called New Media.
Got an update to our existing core business, which as all you I'm sure to know we've been very focused on kin of to transition the old legacy mortgage business into the senior housing business. That's a transition that continues and has had a lot of successes and there is a lot of good things to talk about with that and I'll turn it over to Andrew to talk about that and them I'm happy to answer questions for you.
As Sarah mentioned, we have posted on the website a flip book that I'll refer to some of the pages. Where I won't go through all of them and hope that will give you some good disclosures to what is going on.
So first of all on Page 3, the executive summary. We've made two investments in Newcastle in two high yielding media companies, local media companies that will be combined and spun into the new company called New Media. First of all, we announced as well as Dow Jones announced we're going to buy 33 local newspapers from them for a total of $82 million, that investment is financed with $33 million in Glasgow [ph], it's a total equity investment of $49 million.
Second of all we have had an investment in the debt of a company called GateHouse, which is a local media company, which has been a public company for a number of years. That company is not currently in bankruptcy, but the company is over leveraged has been a company, that's sector. We bought that originally many years ago. Over the last six months to nine months, we've made a number of other follow-on investments as much, lower prices deeply introduced prices and concurrent with the transaction with Dow Jones, we've reached an agreement with other debt holders to essentially convert the debt of that company into equity, those two things combined will be spun out.
And so what all of you with all of the Newcastle shareholders will end up with as a confirmation of that process which we expect to be some time later this year probably in November or early December. It is one share of Newcastle which will now even be more concentrated in the senior housing sector and again we will walk through what that looks like as well as in one share of the newspaper business.
In fact at the expense of flipping to the back, what we have done is back on Page number 15, have done some of the post-analysis to show you what it means to all of us as Newcastle's shareholders on what the resulting companies will look like, what it means to the valuation of the enterprise.
The senior housing business, which today we have invested equity of about $167 million, we have a current run rate of return on investment in the high-teens, 70% here that's been very, very prolific business for us, its Andrew White who heads that business, has done a terrific job both putting the team together as well as buying assets as well as operating the assets and we generated terrific results in a short period of time.
If you look at other healthcare REITs and the fact that it traded sub 5% dividend yield, 6% FFO yields, we think that are too fast-forward to be end of the year and forecasting that we are going to be about $400 million in equity deployed, that's our estimate based on current market conditions and on current pipeline that although we have in front of us.
You would end up with $400 million in capital, yielding 17% to the extent that those are valued at 6%, 7%, 8%, 9% yields. It's a multiple between 2x and 3x that we paid for it. So that would be a big valuation increase on that portion of the business.
The media assets which performed in this transaction, we have $230 million invested in the cash-on-cash dividend yield to investors we're forecasting to be 20%. So it is an out of favor asset. We think it's a terrific investment that we're delivering to shareholders. After a while, we think that in a minute, but they are very cash flow positive assets with very low leverage. 20% cash and cash return to the extent that traded at 20% yield and it's basically worth what we have paid for to the extent that it trades at 15% or 10% yield, then obviously it's worth incrementally 1.5x to 2x.
The CDO and debt position continues to be little down as I can and we – there is just really timing considerations in terms of when that all is expected to turn into cash. We expect the bulk of that if not all of that would be deployed eventually into the senior housing business and the investable cash left on balance sheet that we assume that we're going to make some multiple on, as we deploy that into the senior housing as well.
If you add all that up, you end up with valuations and from the low side; we're little over $5 a share. Obviously trades more than that, but really we think that the – my expectation is that once this is all executed properly, you end up with $7, $8, $9, hopefully $10 a share on this part of it. Which when we add that back on to the NRZ what we did earlier this year, we think it's got a potential to have a spectacular result for shareholders that's obviously what we are shooting for. So with that as a kind of a broad frame of reference, if we go back to the beginning of it and just walk you through a few of the highlights on this, and then I'll turn over to Andrew for a second.
So New Media will be a spun out company. We're very concerned with this transaction to make sure we didn't dilute the value of everything else that we've got on the balance sheet. So the media assets trade at different multiples than the healthcare assets obviously. So we expect to file a pre-packaged bankruptcy for the GateHouse Company next week, Wednesday, Thursday, Friday, in this case where 90-plus percent of the debt holders have already agreed to the restructuring. It is a formality that's too strong a word, but it's a very, very straight forward process, and we expect to culminate with the company coming out as a restructured company 60 days to 75 days afterwards.
It will have as I said it will have a cash-on-cash dividend yield of about 20% and we expect to pay through that dividend, the total debt on the company would be less than 2x, it's a very, very low leveraged transaction and I think very importantly in addition to the assets themselves which are local newspaper assets in the most part. So assets that have been very resilient even during the downturn and all the internet issues that have affected lot of the big city newspapers.
The opportunity is to buy other assets, we think in a very, very attractive levels is one that you create a lot of growth. I mean our big picture hopes and forecast of the business as we come out of the company that's got a 20% dividend yield and then if we do a good job in both foreign cash flows organically, some of the digital initiatives that we have, they are like Mike Reed who is the CEO of that business, talk about in just a sec. Plus the acquisition opportunities where we think we can buy lots of assets, they used to trade at 10x, 12x multiples at 2x to 3x multiples that we can generate a lot of growth and hopefully double the adherence of that company over the next couple of years.
So if you flip to Page 5, local newspaper as you can see from the chart on the right hand side here, while they were certainly very affected by the downturn in 2005, 2006, 2007, they even actually stabilized to a very significant degree. The stable cash flow characteristics of them are what I think are attractive to from our standpoint and be also attractive to Warren Buffet probably, I kind of quote from his letter in 2012, local newspapers are essential parts of the local community.
Everyone wants to see who is drunk driving and whose kid did well in the high school volleyball game. The local content is new replaceable part of the community and as part of that, once you've had these declines in the local advertising, the circulation numbers that actually stayed very stable. And if you look at the chart in the right-hand side, the digital part of it, which we think is a big part of the future of this company, is becoming an increasingly prominent aspect of it.
Page 6, with the distress, comes hand-in-hand the buying opportunity. And so many of the public companies were over leveraged and were forced to restructure. There has been number of Chapter 11s and number of Chapter 22s, which were, obviously, multiple bankruptcies of the company. There's been over 80 sales completed since 2009 with transaction values of over $5 billion, over $2 billion this year alone. And very importantly, there are very few buyers of assets that actually have the wealth to do it right now.
So those companies that have been restructured, those companies that are in bankruptcy or come out of bankruptcy, end up with very high debt burdens and, as a result, they lack the ability to be effective buyers and we think that that creates this total asset values and then a tremendous amount of upside in buying these. And simply put, buying assets at 2x to 5x multiples for the newspapers and 1x to 2x multiples for the directory and then applying our own management, our own digital processes, again, I'll let Mike Reed talk about, we think that the net of value that you can create is to tremendous amount of value.
The next couple of pages give some information about the papers themselves, about Jones papers. First of all, you can see these are very much small town newspapers, 200,000 subscribers per week in seven different states and we bought them, we think at a very attractive price, Page 8, we basically paid $82 million, that's about $33 million in real estate value. So if you look at just the operating cash flow that we bought, we paid roughly $50 million for an asset that we think is going to produce $25 million in cash flow next year. So maybe not to grow, see just assets in the world from this point forward, but $50 million for $25 million in this market we think is a tremendous asset.
The GateHouse overview it's quite a bit larger enterprise, 400 different newspapers, 300 different websites, lots of [indiscernible] in the country. You can see there was again a significant decline in the EBITDA 2007, 2008, 2009, Mike has done a terrific job with that and has been stable as of late, first half of the year was what we think a real pivot point for the company. We see the results coming through now in the third quarter and headed to the second half of the year where we think that the business is stabilizing and growing and I'll turn over to Mike just in a second to talk about that.
The net of it is what will you own as a Newcastle shareholder, you will contribute the equity value on Dow Jones, you will contribute our portion of the GateHouse debt that's being converted and pro forma of the transaction today, we would own $230 million in capital 59% of Newcastle.
Page 11, to give some financial metrics to what we are hoping to accomplish here, this is a very simple model that just simply says, if you take the current earnings and [indiscernible] per share, the circle there on the green on the left hand side, $0.25 per share, if we can invest $1 billion in assets over the next three years, we basically double the overall dividend rate of it.
So again a company that starts at 20% where we think it should trade at a better yield than that, a higher multiple in other words and one that we think we can double, but we do a good job executing the core business as well as being prolific on the investment side, I think that's the growth platform over there.
So a big part of our activities and focus in the last number of years, in addition to the core business of running the company day to day has been to focus on our digital aspect of the business and what we can do with our customers and we created a company called Propel a couple years ago. Page 12 gives you a timeline of that but let me take a pause at this point and turn it over to Mike to walk through it. Mike.
Michael E. Reed
Thanks Wes. I guess I would start quickly by saying that there is two key components to our strategy and Wes mentioned one that's to stabilize the core and I think an important factor to note is that over 60% of the revenues from our traditional print media business is now coming from categories that are stable to growing so the stabilization characteristics are there and in that the top line now and the small erosion that we are seeing on the print advertising side is also becoming a much smaller category for the industry and for the company.
It's also not fair to paint the entire industry with the same brush. There has been a lot of headlines in the last few months about larger newspaper losing money, cash flow negative situations with regard to some of the recent sales and as you just on Page 9 our newspaper business is one where we actually produce over $80 million of cash flow from a core business and $470 million of revenue.
So there is significant cash flows in the local market newspaper business and those cash flows are starting to stabilize an importantly stabilizing from at the top line level.
And then what we really see as the opportunity is to leverage the strong local brands and the local sales forces we have in all of these markets to grow in the digital space and where there is a real tremendous opportunity is in the digital marketing services business.
And if I could summarize that really put before you, what we really do is offer a small to medium size business in all of our communities. The ability first to build a presence and the web mobile and social media platforms that are applicable to them and two once they build the presence we help them get found, it's not enough just to be there, you have to have actually be found.
And number three once found, we help them actually engage with the customer. You need to deliver the right message and you also need to know what people are saying about you. So those are really the three key components of Propel's product offering today and it's something that small to medium-sized businesses praise today and that need will actually only continue to grow.
When you think about the small mom and pops out there, they don't have IT departments, they don't have big marketing departments and they don't have the sophistication level to really understand and navigate through this new environment they have to navigate through, nor do they have the time.
So what our newspaper assets can really do leveraging the brand and the sales force would become the outsource marketing and IT department for these SMBs. And a significant amount of lead generation in the future for these businesses will actually come through this type of service.
The other thing it really does for a traditional media business is it extends the customer pool. in the markets, the newspaper actually operates in. Newspapers currently penetrate 10% to 15% of the businesses in a community. And these particular services apply to all businesses of the community. So the customer pools expanded tremendously.
So the opportunity to grow organically, leveraging the core, which is starting to stabilize through these digital marketing services is something that we see as tremendous potential in our business.
Wesley R. Edens
Yeah. when you look at Page 13, there's no part of the industry that has been harder hit than the core directors businesses, these were once considered to be the more stable kind of cashed out. In media industry, they traded at multiple of 10x, 11x, 12x obviously; the Internet has taken a huge whack of these businesses you've seen kind of the year-over-year decline in revenues, 15%, 20% for a number of years.
We own one directory in the portfolio right now that is out in Sacramento. About a year ago, we actually applied a Propel folks to go in there, take that sales force, go out and pitch the customers to do some of the things Mike was talking about in terms of other digital activities and then the results have been striking, right? It looks to us this year; our forecast is basically the company is revenue neutral this year versus last year, which is, obviously, a tremendous result.
A lot of these records businesses trade at very, very low multiples because people are worried and kind of rightfully so. They're going to go to a business to the extent we can take these kind of digital superpowers and apply them to these other kinds of old-line media businesses. We do think that there is a lot of upside to it.
So that's the conclusion. Before I turn it over to questions, maybe just kind of big part of the core business at Newcastle restated business, senior housing business, so I'll just turn over to Andrew for a second. Andrew is going to give a little bit of update on kind of the business and what we are up to.
Andrew White
Sure. So our portfolio right now includes the $467 million of assets we had closed on as of the last earnings call about $167 million of equity invested. We continue to be on track on the operating side with respect to that portfolio. We had targeted kind of 12% to 14% going in lever yields, stabilizing at the high-teens low-20s and we continue to be on track for that.
The first portfolio we acquired about a year ago. We are now just reaching the one year anniversary of that investment and we are at a 22% leverage yield on that investment. So, again, with respect to the first $0.5 billion or so of acquisitions we've closed, we continue to be kind of on track operating wise.
We have given guidance that the current portfolio is targeted to be between $600 million to $800 million of total assets, about $200 million of equity to be invested in the balance of the year and we continue to feel good about that. In the last month or so, since the earnings call, we tied up about $150 million of total asset, so we continue to see some track of our year end goal.
Again, same return profile and kind of operating profile as the portfolio we closed on to-date going in levered returns in kind of the 12% to 14% range with the expectation we stabilize in the low-20s. And again all of that is against the backdrop of the competitive set which trades kind of in the 5% to 6% levered yield range. So I think that's kind of the recap for the senior housing [ph] portfolio right now.
Wesley R. Edens
All right. So again the – for all the shareholders that are on the call, you'll start – starting today with a share of Newcastle stock, you'll end up with two shares of stock, a Newcastle share and New Media share, here in the next 60 days to 90 days and you'd be free to do whatever you like. We think there's some prime reasons to keep us with [ph] both companies. That's how I feel about it obviously. But of course you'll be able [indiscernible] about it.
So with that, I'll let – I'll pause and operator if you can open up for questions.
Question-and-Answer Session
[Operator Instructions] Your question comes form the line Douglas Harter.
Douglas Harter – Credit Suisse
Well, I was just hoping you could tell us what has to happen before the spin out of New Media? Is it similar process that we went through within New Residential?
Andrew White
Yes, what we are going to actually do is, we will file the company for a – this pre-package bankruptcy some time next week. Basically, the same time, plus or minus, probably, a day or two of time lapse, we except to file with the SEC for the spin. And then it's just a question of kind of grinding through the Hall of Justice with the SEC.
So when that happens based on our experience with it and where things currently stand, we think that the expected timing for that should be sometime maybe in the second half of November or first half of December, but as we get more clarity, we'll obviously pass that along.
But it should be, we think, pretty straight forward. It is a little bit unusual to file a company for bankruptcy and file it for the spin at the same time, but we think that the nature of what we are doing here is so straightforward that it shouldn't be that difficult for folks to get through. That's our expectation.
Douglas Harter – Credit Suisse
And then can you walk through the thought processes as to why – with all the pockets of Fortress, how it came at the Newcastle, this opportunity came to Newcastle?
Wesley R. Edens
Well, we actually had been an investor in GateHouse debt for many, many years. It's probably been five, six, seven years, and so we had a position in GateHouse, in the debt. Historically, we obviously know the company well, and know the operations, know Mike well, like actually business, like the prospects of the business. The company was overleveraged obviously. So it was a real candid for exactly the kind of restructuring that we're doing right here, but given that we already have the position in the debt side of Newcastle to say at least that the media's – investment for a REIT to be making, we did have the legacy investment.
We think it produces a company that has got a tremendous amount of upside and that's why we made it follow-on investments into Newcastle. That said, I want to make sure that as the result the company has a chance to stand on its own and not hurt the multiple potential for the senior housing business and thus the decision to spin it at the same time, we actually could clear the restructuring is really the right thing to do.
Douglas Harter – Credit Suisse
All right. Thanks for that color Wes.
Your next question comes from the line of Jason Stewart.
Jason M. Stewart – Compass Point Research & Trading, LLC
Hi. Good afternoon, on the REIT eligibility requirements, how does this investment change? How you view those or is there anything you have to work around in terms of asset or concentration limits?
Wesley R. Edens
No, we have lost the coverage on all the tests for this year and so we're – we got really no issues with that whatsoever. Obviously, if we are own it for a long-term REIT, we have issues we have to deal with and it's not a good REIT asset except for the real estate it's owned by the different companies, but all has a move point with that being spun out. It will be spot, obviously core fund stand on this.
Jason M. Stewart – Compass Point Research & Trading, LLC
Okay. And then the determination on any impacts of the NOL, that's remaining at NCT, I don't recall those NRZ, any specificity around how that's changed, but I mean this obviously would I assume change it as well?
Wesley R. Edens
Jon Brown CFO.
Jonathan R. Brown
The NOL will be maintained at the NCT level, not go along with the spin-out and it primarily relates two things in the debt business and some future deferred income in the debt business will probably offset against those NOLs in future.
Jason M. Stewart – Compass Point Research & Trading, LLC
Okay, all right. Two more if you don't mind; when I add up the investments in media, I get to something closer to $296 million or so, how do you get down to $230 million from that level if you do the…
Wesley R. Edens
We anticipate putting on about $150 million in debt against Newcastle which will be a little bit less than two times of leverage and GateHouse about two times of leverage. We did, did a financing in conjunction with the Dow Jones acquisition so we think we've got good color and clarity as to where that market is. We didn't think it's accessible and so your math is right on a gross basis, but then once you take out $150 million, which we actually are beneficial owner kind of half of it, that will bring you down to $230.
Jason M. Stewart – Compass Point Research & Trading, LLC
Will that capital would be available at NCT to make other investments?
Wesley R. Edens
It will be, it will be done kind of concurrently with the spin.
Jason M. Stewart – Compass Point Research & Trading, LLC
Okay. And one last one and then I will jump out. The status of the GateHouse loan at NCT, I don't actually know if it was a accruing or if it was take or cash volume, if you could just give us some update there?
Wesley R. Edens
It was all current pay. The company was current on all of its obligations, it just is over leveraged, so but it – the company has never missed a payment on anything, so this is just simply a – it's a voluntary restructuring given the leverage levels of the company, not the financial condition of it.
Jason M. Stewart – Compass Point Research & Trading, LLC
And then, it was LIBOR plus 150 or 200, am I thinking of right part of the capital structure?
Jonathan R. Brown
Yes, 250.
Wesley R. Edens
Yes, 250 and it was – had discounted the price that which all of this is converted, it's $0.40, so it was mid-single-digit return on a current basis that will actually be converted into equity that essentially earns 20%. So we think there's a huge amount of value that's unlocked by doing this and that's the road behind it.
Jason M. Stewart – Compass Point Research & Trading, LLC
Thanks for taking the questions.
Wesley R. Edens
You bet.
Your next question comes from the line of Matthew Howlett.
Matthew Howlett – UBS Securities LLC
Thanks for doing this call. Thanks for taking my question. Want to just clarify, if your – the senior living pipeline that's on track, then when we can presume that the collapse of CDO 6 and CDO 8 this year are on track?
Wesley R. Edens
Well, I'll let Ken deal this specifically. I mean our publicly stated ambitions are to convert all the legacy businesses and the capital that can be redeployed, in particular, in the senior housing business. And all those things are very much kind of happening as we expect. There's obviously timing considerations, market considerations that come into play as you talk about collapse in various fields. And so Ken, I'll let you talk about whatever you feel comfortable.
Kenneth M. Riis
Sure. I mean we have sort of two weeks ago, we own all of the senior bonds in the CDO 6. So either we can collapse our deal, or we can sell out the whole senior class position there, a much higher pricing when we bought it, that's one option, which is very simple to do or easy to do. And then the collapse could take 30 days or so and really the other deals CDOs 8 and 9, and that's just really a function of timing as the senior living pipeline sort of comes to needing funding and then as timing the sale and class of the other two deals. So it's really willingness to us, we're generating good cash flows on CDO VIII and CDO IX. So my goal is the time the classes eight and nine as we deploy back in the senior living assets and within a very short period of time of the class versus the reinvestment and that's really where we are with that.
Matthew Howlett – UBS Securities LLC
Got you. You feel pretty good like with the volatility coming up with that said I mean you feel that you still going to prevent execution on the assets where you had them valued at June 30th to be able to go and pay all the third-party debt-offs and obviously recover what you guys have missed.
Wesley R. Edens
Yeah, I do, yeah.
Matthew Howlett – UBS Securities LLC
Okay. And then, okay, can we simply, by this time next year that all three seniors will be gone effectively.
Wesley R. Edens
That's the goal.
Kenneth M. Riis
Yeah, that's our goal.
Matthew Howlett – UBS Securities LLC
Okay. And then just going forward just the focus on the company going to be just the senior living, I mean, are other things to think about or where you just see opportunities and take advantage of them as they come your way or is it really just focusing on filling the pipeline and hopefully then getting the re-rating on the dividend yield what should be more in line with the senior living peer group?
Wesley R. Edens
Well, I mean we show up everyday trying to find interesting things to do right. The markets are – there is lots of challenging things in the world, finding attractive investments and we think we've got the right kind of opportunities set is the hard one. But the fine thing is we can at a great return as well as our in sectors that are big enough and viable enough that you could actually then really execute on different things is always a challenge.
We don't have anything else that is really material, if it isn't in the hopper right now. But our business is to find things to do and we look for it. I think the expectation that I have for the core business right now is to do exactly as we have laid out and have done, I mean remember the senior housing business for us is in this company is a relatively new endeavor as well. We first started making investments in July of last year. so it's been just a shade over a year in that time.
And I think that few people were excited that we are prospecting into it. but also I wanted to give us credit for what we had done, not what we were talking about doing. And I think that we're just now getting the benefits as Andrew and his squad have done a terrific job of both making investments, as well as executing on them.
I mean the first investment we made last July into a marketplace where I think most people would say there is a lot of investment capital chasing it has generated, has gone from the leveraged return in the high single-digit, low double-digit to 22%, that's where the current rate on it right now.
So that's a great accomplishment on that, first piece of capital and we're trying to replicate that over and over, because we do think that – again, if you look at the biggest companies in that sector, they are many, many times of size of us. But they were our size not that long ago. So I think that that's obviously puts the opportunity.
Matthew Howlett – UBS Securities LLC
Right, now I would now agree. I would just say that in order to get that market peer re-rating, then you would have the cash flow stream, you would have to be obviously, most of it coming from the senior living space in order to you will get the full market re-rating of the story. But I think it's been a terrific job and gradually we see in the team.
Wesley R. Edens
Thank you.
Your next question comes from the line of Adam Forsted.
Steve J. Errico – Locust Wood Capital Advisers LLC
Hi Wes, it's actually it's Steve Errico. Thanks for taking the question. If you could just help me do a little bit of a bridge here from the second quarter's EPS or FFO. I think you guys reported $0.09. And there was about of $0.015 of one-time expenses from the spin of NRZ, so that brings us to $10.05. And then I had another $0.05, because you didn't have the healthcare properties that you bought for the entire quarter, so that would get us to $0.11.
In that $0.11, you have this $230 million of capital, earning about 6%, so if I want to take that out, that get you to $0.10 to the – what I am going to call the core CDO/senior living business. And this new acquisition is about $0.15 accretive or about $0.04 a quarter. So am I looking at that right, the spin-off, the core business without this media business is going to be about $0.10 a share a quarter or $0.40 a year?
Wesley R. Edens
I think that is – that's a good summary and if you think back to the guidance that we gave at the time when we are doing the spin as to what our expectations were in the fourth quarter, we're forecasting to get to kind of a $0.14 run rate. So that's the $0.10 going to $0.14 and some portion of that was that we thought we would get a full pay through of this capital being deployed at 20% rather than at 6%.
Steve J. Errico – Locust Wood Capital Advisers LLC
Wesley R. Edens
So, in terms of the specific guidance for the quarter, we haven't obviously had a board meeting, talk to our directors about where our dividend is going to be and wherever else, but I think that the math that you go through is pretty consistent.
Steve J. Errico – Locust Wood Capital Advisers LLC
So the way you think about is, if I took that some of the parts and let's just say, you took the mid-point on this thing, traded at a 13% yield, you've got a $5.60 stock, you back out $1.20 or $1.32 for your spin-off thing, you are creating the stub or the senior living business at $4.20 or so and without any growth, we would that expect that to pay a $0.40 dividend, which is anything now from 9% yield versus the comps that are 5% or 6%?
Wesley R. Edens
Yes, and obviously, the more capital that we deploy – I mean the magic to it and it's not magic, I use the term achieved [ph], but the goal obviously is if you can generate 20% returns in a business where the industry is valued at 5%, every dollar capital we deploy there is very accretive.
Steve J. Errico – Locust Wood Capital Advisers LLC
Got you, great.
Wesley R. Edens
That's what our focus is on and then we are too.
Steve J. Errico – Locust Wood Capital Advisers LLC
Well congratulations and look forward to seeing the spin documents. Thanks again.
Wesley R. Edens
All right.
This concludes the question and answer session. I'll now turn the call back over to Wes.
Wesley R. Edens
Great. Well thanks everyone for calling on short notice. We've tried hard to be very clear in the presentation we put up online to answer lot of your questions. This has hopefully been helpful as well. And look forward to talking to you soon. Thanks so much.
Thank you. This concludes today's conference. You may now disconnect.
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Tune in to Discover the Unlikely Superstars of the New Games
The networks may have commitment problems when it comes to doling out time to political conventions, but boy is NBC getting cozy with the Olympics: 1,210 hours of round-the-clock coverage smeared across most of its subsidiary networks including MSNBC, Telemundoeven Bravo (presumably trying to head off its burgeoning reputation as the queer-eyed metrosexual network). This much more democratic approach opens the games up for fans of less iconic events like water polo or handballeverything but Scrabble, as far as I can seethough crowd-pleasers like gymnastics and swimming still get plum prime-time spots. And it gives us a chance to pretend the rest of the world still likes us, while trumpeting the triumph of American will until our heads explode.
No matter that stars like Lance Armstrong and Kobe Bryant won't be competing: The Olympics always generates new icons, celebrating the sappy human tale behind even the most seemingly drab athletes. The latest product from the Olymp-pimp machine is Tela O'Donnell, a petite female wrestler from Alaska who sings folk songs just like her former babysitter, Jewel. And it worked: I'm so totally hooked by Tela's story that I intend to root for her, even though the women's wrestling competition is scheduled to air on CNBC in the middle of the night on August 22 and 23. And if I haven't keeled over from the agony of victory and the thrill of defeat, just try to keep me away from the synchronized swimming event.
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"One of the sad aspects of Tibor's early death is that it puts other people in the unhappy position of having to speak for him, which I really can't. Working on his book with him, I came to know Tibor as a person who, simply put, was uncomfortable being comfortable. His intuitive reaction to any status quo situation was first to disrupt it."
Conversation with Michael Bierut - Part 2
June, 29, 2006 | By Bill Keaggy
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|By PR Newswire
Article Rating:
|March 4, 2014 08:05 AM EST
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Oct. 24, 2016 04:30 AM EDT Reads: 1,320


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A smaller version of a cake I made earlier this year. That was a wedding cake, this is for a Christening. Added more pink to give it a more youthful feel. I love the feminine, romantic feel of it.
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Collection The Life of a City: Early Films of New York, 1898 to 1906
Results: 1-1 of 1 | Refined by: Part of: The Life of a City: Early Films of New York, 1898 to 1906 Remove Location: Broadway Remove Part of: Motion Picture, Broadcasting and Recorded Sound Division Remove Part of: Inventing Entertainment: The Early Motion Pictures and Sound Recordings of the Edison Companies Remove
Film, Video
New York police parade, June 1st, 1899
"An excellent view of "The Finest," on their annual parade and inspection, June 1, 1899. The head of the column is just turning into 14th Street from Broadway, the Morton House forming part of the background. Crowds line both sides of the cable car tracks, falling back as the band heading the first division swings around Dead Man's Curve and passes the camera. Chief ...
- Contributor: Thomas A. Edison, Inc - Paper Print Collection (library of Congress) - Niver (kemp) Collection (library of Congress)
- Date: 1899


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Senior middle hitter/setter Mike Holihan led the way with 13 kills and 17 assists in leading Northampton past Easton 3-1 (25-22, 22-25, 25-23, 25-13) in boys volleyball tonight.
Josh Palenchar had eight kills, Matt Mottau added 18 digs and Dave Cattano had 16 assists for the Konkrete Kids.
"After the second game, they responded," Northampton coach Doug Fehnel said. "Mikey (Holihan) sort of took over. His court presence and leadership are very strong."
The win boosted Northampton to 11-1 on the season as the K-Kids remain tied for first place with Parkland in the Lehigh Valley Conference North Division. The teams are slated to play on May 7, Parkland having defeated Northampton earlier in the year.


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Olivia Sprauer, Teacher Fired for Being Too Sexy: A Glimpse Inside Her Real Life
Take a look inside her real life: kids, puppies, and Panera Bread.
Yesterday, Olivia Sprauer, a brunet bombshell who was fired from her teaching job at Martin County High School last month for being too sexy -- and yes, uploading nudie pics of herself -- exploded the internet.
The former English teacher, who is a graduate of Florida Atlantic University, made it into the pages of Huffington Post, ABC News, Gawker, and even across the pond to the Daily Mail.
See also: - Olivia Sprauer, Boca Raton English Teacher, Fired for Being "Eyecandy Model"
Now for the first time, we have Sprauer's other side. Currently, she's been defined only by her alter ego, Victoria Valentine James -- the buxom beauty who models for XXXTremeVisionRadio Magazine and Miamiparties.com.
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But there's also the woman who taught English at Martin County High School, and, if her Facebook page is any indication, this Sprauer couldn't be more different.
She's, well, domestic.
Yesterday, we got this:
Today, we get this:
Yesterday, we learned her likes include: Because Babes, Dark Sexy Secret, and Super Sexy Hot Horny Best Beautiful Lovely Erotic Bodies.
Today, we discovered her day interests: Panera Bread, the Palm Beach Zoo, Vero Family Photo, and coupons.com. This Sprauer likes good literature and feminist issues and uploads consistently adorable photographs of her two blond daughters.
The other Sprauer -- the sexy one -- jokes about losing her job: "I'm too sexy for my job...Lol...,"she wrote yesterday. Then she goes off to Vegas for a scantily clad photo shoot while the maelstrom swirled:
Still, let's not lose our heads over this one. By all accounts, including her own, Sprauer is merely a woman trying to support her two children, fresh off a divorce. Granted, moonlighting as "eye candy" may not be the best way to do it -- especially if that meant sacrificing her day job -- but a girl's gotta do what a girl's gotta do.
And this girl went to Vegas.
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Baldo by Hector D. Cantu and Carlos Castellanos
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Comments (7) (Please sign in to comment)
If you have gause & cotton balls (along with alcohol or disinfectant), that'd make an excellent make-shift bandage until you buy more at the store.
mmmmmmmmm, cookies
I always make sure, that I have bandaids at home. Not because I cut myself more often than the next person, but because I have psoriasis. My skin easily becomes too dry, and then I get these painful chaps, especially on my fingers. Ugh… But anyway, Gracie is still so little, that it was really irresponsible of Sergio to not have bandaids at home.
MadCow is right! My brother in law uses duct tape for cuts. It's the only stuff that won't fall off.
Tape will work, but don't run out of the disinfectant. That cut can morph into an infection.
One of my twin grandsons said his pa pa always said you are okay, but I always said I'll get a bandaid. He liked that better!
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The Extraterrestrial Times, The Collections & Art of Francis EkisT.ET.T 2012; US$ 5.00
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