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Ultra Clean Holdings, Inc. (NASDAQ:UCTT)
F1Q09 Earnings Call Transcript
May 04, 2009 at 5:00 pm ET
Clarence Granger - Chairman and Chief Executive Officer
Linda Clements - Vice President of Finance, Principal Financial Officer and Principal Accounting Officer
Jay Deahna - Individual Investor, JP Morgan
Edwin Mok - Needham & Company
Timothy Summers - Wunderlich Securities, Inc.
Good afternoon ladies and gentlemen, this is the operator. Today's conference is scheduled to begin momentarily. Until that time your lines will again be placed on mute. Thank you for your patient.
Good afternoon. My name is Ashley, and I will be your conference operator today. At this time, I would like to welcome everyone to the Ultra Clean Technology's first quarter financial results conference call. All lines have been placed on mute to prevent any background noise. After the speakers' remarks, there will be a question-and-answer session. (Operator Instructions) Joining us today is Mr. Clarence Granger, Chairman and Chief Executive Officer.
I will now turn the call over to Mr. Granger. Sir, you may begin your conference.
Clarence Granger
Thank you, Ashley. Welcome to our first quarter financial results conference call. With me today is Linda Clements, our Vice President of Finance, Principal Financial Officer and Principal Accounting Officer.
Linda will begin by presenting the financial results for our first quarter and then I will follow with some remarks about the business. Linda?
Linda Clements
Thank you, Clarence. A few moments ago, we issued a press release recording the financial results for the first quarter ended April 3rd, 2009. The press release can be accessed from the Investor Relations section of Ultra Clean's website at uct.com. In addition, we have arranged for a taped replay of this call, which may be accessed by phone. This replay will be available approximately one hour after the call's conclusion and will be accessible for two weeks.
The dial-in access number for this replay is 800-642-1687 for domestic callers and 706-645-9291 for international dialers. The pass code is 94739714 for both domestic and international dialers. This call is also being webcast live with a web replay also available for 14 days from the Investor Relations section of our website at uct.com.
Together with our recently issued press release, this conference call enables the Company to comply with SEC regulations for fair disclosure. Therefore, investors should accept the contents of this call as the Company's official guidance for the second quarter of fiscal 2009. Investors should note that only the CEO and Principal Financial Officer are authorized to provide Company guidance. If at any time after this call we communicate any material changes in guidance, it is our intent that such updates will be done officially via public forum, such as a press release or publicly announced conference call.
The matters that we discuss today include forward-looking statements as defined in the US Private Securities Litigation Reform Act of 1995 related to matters including our future financial performance, new product orders and shipments and industry growth.
Investors are cautioned that forward-looking statements are neither promises nor guarantees, but involve risks and uncertainties that may cause actual results to differ materially from those projected in the forward-looking statements. Some of those risks and uncertainties are detailed in our filings with the Securities and Exchange Commission, including our most recent Form 10-K filed for the year ended January 2nd, 2009. The Company disclaims any obligation to publicly update or revise any such forward-looking statements or to reflect events or circumstances that occur after this call.
Now, here are the first quarter results.
Revenue for the first quarter of 2009 was $22.4 million, down 52% from the fourth quarter revenue of $47.1 million, and a decrease of 76% compared to revenue of $92.4 million in the same period a year ago.
The decrease in revenue was due to the continued industry-wide cyclical reduction in demand affecting all semiconductor capital equipment customers. In addition, we saw a decrease in our non-semiconductor business as a result of current economic condition.
Semiconductor revenues declined $15.5 million or 57% sequentially. Non-semiconductor revenues, including sales within the medical device, flat panel display and solar industries, decreased $9 million or 46% sequentially to $11 million.
We experienced a negative gross margin for the first quarter of 12.8% down from a gross margin of approximately 1% recorded in the fourth quarter and a decrease from approximately 13% in the same period a year ago. On the $3.3 million sequential gross profit decrease, $5.4 million is related to the volume decrease, offset by approximately $2.1 million of cost savings.
We recorded a restructureD charge during the quarter related to the closure of our Tualatin, Oregon facility of approximately $146,000 net of tax or $0.01 per share. We also expensed approximately $316,000 net of tax or $0.01 per share for cost related to an acquisition transaction that was not consummated.
Operating expenses, inclusive of the restructure charge and transaction costs were $7.3 million, a decrease of approximately $600,000 from the prior quarter when excluding impairment costs recorded in the fourth quarter of 2008.
The sequential decrease reflects the cost savings from staff reductions and other cost saving activities, as well as the absence of amortization of intangibles as a result of the asset impairment recorded in the fourth quarter, offset in part by the restructure charge and transaction costs.
Net interest and other expense of $195,000 represents an increase of approximately $150,000 from the prior quarter primarily as a result of the interest income recorded in the fourth quarter on government reimbursements offsetting interest expense related to third-party debt.
Our pretax loss was $10.4 million inclusive of the restructure charges and transaction costs discussed previously. Our effective tax rate of 32% is less than the 35% previously forecasted due primarily to the effect of foreign operation.
We continue to review our corporate tax structure used to manage our business in light of current economic conditions. The first quarter net loss was $7 million. This compares to a net loss of $52.2 million in the fourth quarter of 2008 and net income of $1.9 million for the same period a year ago.
Our first quarter net loss per share was $0.33, compared to a net loss per share of $2.45 for the fourth quarter of 2008 and net income per share of $0.09 for the same period a year ago.
The first quarter 2009 net loss per share is inclusive of noncash charges of $0.03 per share related to FAS 123R during the period. As previously discussed, the 2009 net loss per share is inclusive of costs associated with an unconsummated acquisition transaction of $0.01 per share and $0.01 per share for the restructure costs associated with the closure of our Tualatin, Oregon facility.
First quarter revenue of $22.4 million and the $0.33 loss per share is within our guidance of revenue of $20 million to $28 million and loss per share between $0.25 and $0.36.
Turning to the balance sheet, during the first quarter cash increased sequentially to $29.8 million while third party debt decreased $1.2 million to $17.3 million. Taken together, cash net of third party debt increased $1.4 million during the quarter as working capital reductions more than offset the operating loss. This brings our net liquidity to its highest level since the first quarter of fiscal 2006.
Accounts receivable of $10.5 million decreased sequentially $3.3 million or 24% due to lower revenue. Day sales outstanding increased 42 days from 26 days at the end of the fourth quarter. Accounts payable of $10.7 million decreased approximately $600,000 or 5% sequentially due to reduced purchases during the quarter. Day's payable outstanding at the end of the first quarter increased to 38 days from 22 days at the end of the fourth quarter. Accounts receivable and accounts payable days outstanding returned to a more normalized level at the end of the first quarter.
Net inventory decreased $1.9 million or 5% to $37.9 million as we continued to consume inventory.
Now, Clarence will discuss our operating highlights for the first quarter and provide guidance for the second quarter of 2009. Clarence?
Clarence Granger
Thanks Linda. Semiconductor capital equipment demand continued its dramatic decline during the first quarter of 2009 with end user demand limited to next generation technology and maintenance purchases only. Our OEM customers continued their focus on reworking existing subsystem inventory whenever possible to fulfill their limited system orders.
In this very challenging market environment, our primary focus has been on maintaining a strong balance sheet while decreasing our cost structure and strengthening our customer relationships.
During the quarter, we successfully completed several balance sheet related activities. We extended the term of our revolver loan to January 2012. We added a $3 million three-year term loan to our borrowing base. We received a $6.5 million IRS tax refund and we reduced our inventory by $1.9 million.
We also achieved our revenue and EPS guidance and continued to increase our non-semiconductor revenues as a percentage of total revenues. Additionally, our new supplier agreement with FEI Company is off to an excellent start. On a negative side, our China based revenue fell as a percentage of total sales to 18.1% as a result of declines in our semiconductor, flat panel, and solar equipment demand.
Finally, during the quarter, we continue to take extensive actions to reduce our cost structure.
I will now provide further details on these activities and accomplishments. Due to the unprecedented industry decline, we continued our aggressive cost reduction measures. We decreased our active US based workforce from 556 employees at the end of Q4 to 351 employees at the end of Q1.
We took 20 shutdown days in the first quarter and have planned 15 shutdown days in the second quarter of 2009. Also beginning in Q2, we have implemented across the Board pay cuts ranging from 15% to 45%. These actions to reduce our cost structure and lower our breakeven are central to maintaining a strong cash position.
As Linda mentioned in her remarks, during the quarter, we recognized a net expense of $316,000 associated with an unconsummated acquisition transaction. As we have stated previously, we will continue to explore acquisition opportunities that meet our criteria of size, profitability, and added capabilities.
In this case, we were pursuing an acquisition that met our criteria but given the changing business environment, we would not come to mutually agreeable terms.
I will now provide an update on our three key strategic initiatives: increasing the non-GAAP delivery portion of our business, increasing revenue in our Shanghai facilities, and expanding our revenue base outside of the semiconductor capital equipment industry.
The non-gas panel portion of our revenue continued to increase to 71% of total revenue in Q1. This was primarily the result of major declines we have experienced in the semiconductor and flat panel portions of our business.
Our China based revenue decreased to 18.1% of total revenue in Q1 down from 26% of revenue in Q4. Again, this was the result of greater declines in the semiconductor solar and flat panel portions of our revenue which are primarily manufactured in our Shanghai facilities.
At the same time, we continued to make progress on expanding beyond the semiconductor equipment industry. While our revenue declined in all sectors during Q1, non-semiconductor revenues increased on a percentage basis to 47.5% of total revenue up from 42% of total revenue in Q4.
Finally, at the end of January, we announced our Global Supplier Agreement with FEI Company. Under the terms of this agreement, Ultra Clean is providing hosted manufacturing services to FEI in their Hillsboro, Oregon facility.
FEI is a leader in the nanotechnology imaging industry. The transfer of currently identified product line to UCT is proceeding on schedule. During March, we made our first delivery to FEI and during Q2, we project FEI will be approximately a 10% revenue customer to UCT.
For 2009, we expect revenues from our agreement with FEI to range between $10 million and $15 million. With future upside potential, as FEI grows its revenue and expands its outsourcing opportunities.
Next, I would like to provide our guidance for Q2.
During Q2, we project the stabilizing of industry wide demand. Revenue for the second quarter is expected to range between $20 million and $26 million, and net loss per share is projected to range between $0.16 and $0.27.
To recap the first quarter activity, UCT achieved its revenue and earnings per share guidance in another very challenging quarter for the industry. We have strengthened our balance sheet, increasing our cash and decreasing our net debt.
We also extended the term of our revolver loan to January 2012 and added a $3 million term loan for our available borrowing base. We took necessary cost control measures, including headcount reductions, mandatory time off, and the initiation of across the Board pay cuts.
Finally, we announced and started a major new partnership agreement with FEI Company. So, industry demand is very weak, our pipeline of new products remained strong.
In closing, we are very pleased with our financial stability and we remain very optimistic about our market position and our flexible business model.
With that, operator, we would now like to open the call for questions.
Question-and-Answer Session
(Operator instructions) Your first question comes from Jay Deahna - Individual Investor.
Jay Deahna - Individual Investor, JP Morgan
I am going to ask a few questions then I will go back in the queue. The first one is on your Q2 revenue guidance; you got a little of down, a little of up there just wondering which end looks more real as you see it today. I presume the down is just being conservative, but within that, how has the outlook for Q2 revenue evolved over the past two or three months?
Clarence Granger
I guess what I would say first of all you said how has it improved over a change over the last two or three months, I would say the biggest change that occurred in the last two or three weeks and directionally we have seen it upward significantly in the last two or three weeks. We had actually anticipated that Q2 revenue would be lower than Q1 revenue a couple of months ago, and we anticipated that Q2 would probably be our lowest revenue quarter. It no longer looks that way. Now, it looks Q1 was probably our lowest revenue quarter.
Jay Deahna - Individual Investor, JP Morgan
I see. And is the revision up coming from one or a combination of your served end markets?
Clarence Granger
I guess what I would say is with regard to our overall served end markets. We are starting to see a significant upturn in semiconductor. The solar and flat panels are still very slow, and recently medical has slowed also, but that has been offset by the increase that we are experiencing with FEI.
Jay Deahna - Individual Investor, JP Morgan
I see. And, at this point, in the ball game, have your semiconductor customers sort of explained to you why they are revising their forecasts up to you and do you have an initial outlook on what Q3 might look like versus Q2 directionally?
Clarence Granger
Jay, this is just Q2. We are not going to give guidance on Q3. It is really too early to say on that. Basically, our customers are starting to get some new orders. So for a long time, if they were getting only technology build and refurbishment activity, they have started to get some new orders from some of their end customers.
Your next question comes from the line of Edwin Mok - Needham & Company.
Edwin Mok - Needham & Company
I have two questions. So, can I ask you a few questions on your guidance? If I look at the midpoint of your revenue guidance, around flattish but earning seems to be improved quite a bit, are you getting more leveraged on your manufacturing or are you seeing more offering saving? Can you help me with that?
Clarence Granger
Sure Edwin. So, what has really happened is in Q1 was when we to add this huge headcount reductions and many of the other actions that we are starting to implement. We actually went from Q4, we had 556 employees and by the end of Q1, we were down at 351. So, that occurred throughout the quarter. Obviously, there are all sorts of costs and expenses associated with that. It was a very painful quarter, but as a result, we are coming out with the much lower cost on the other end.
We have also implemented across the board pay cuts starting in Q2 which will further reduce our expenses in Q2. So, we are pretty confident of those earnings EPS projections in Q2 will be based on those projected revenue level.
Edwin Mok - Needham & Company
Great and then on FEI, it sounds like you are quite optimistic or quite confident that they are at that business realm. I was wondering, did you recognize any revenue in the first quarter and it looks like it is very backend loaded, any risk there that the customers have to dial back their expectation there a little bit?
Clarence Granger
Sure. Linda, do you remember how much revenue we recognized in Q1?
Linda Clements
About $200,000.
Clarence Granger
So, it was very small Edwin. I do not if you heard it but about $200,000 but we did make initial shipments and we are tracking on schedule. As I mentioned, we anticipate that they will be about a 10% customer in Q2. So, we are talking say $23 million at the midpoint. We are talking about them doing more than $2 million in revenue, up from $200,000 and we are very comfortable with that number. So that is a big step function for us and we expect to see a continued pretty good growth ramp there targeting again for all of 2009 with UCT between $10 million and $15 million in revenue.
So, yes it is still a little back-end loaded as we start to ramp but we are starting to see pretty good numbers in Q2. Our ASPs with them are extremely high. They are close to $1 million.
Edwin Mok - Needham & Company
That was helpful. First question regarding flat panel display and then solar sector you mentioned during your comment or during your answer to Jay's question that those markets remain quite slow for you. I am curious just if you look at just year to year point of view for 2009, do you expect any improvement in those end markets going through the rest of this year, for example, last year you guys had ramped Photon Dynamics so I imagined you are probably at the high revenue base so I was just curious year to year, any chance of improvement there?
Clarence Granger
Yes, I guess I would say of the two, we see more life in the flat panel at the moment. Solar seems extremely slow. Now, on the solar side, we primarily have one customer and things have been very slow on that side and we have not seen any measurable recovery at this point in time. On the flat panel side, applied and Photon Dynamics, there are two major customers and we are starting to see a little bit of life in that side of the business with both of those. We have been very successful with Photon Dynamics. They are very pleased with us and they have been looking to award us new business opportunities. Of course, Photon is now owned by Orbotech so they are really our customer now.
Edwin Mok - Needham & Company
Okay, good. I will just ask one more question. So, your inventory level has come down but relative to your current revenue basis, it looks still higher than your historical level in terms of inventory base. I was just curious, any risk that you might write down any inventory going forward?
Clarence Granger
Well, we always have some levels of inventory write downs. We think we protected ourselves pretty well. We do not think there will be any huge inventory write downs. We do expect to continue declines in our inventory. If you look over the last year, we brought our inventory down by about $11 million. I would expect over the next year, we could probably bring it down by another $10 million so that is one of our key sources of cash over the next year but I do not think there is, I think we are pretty comfortable with the way we are accounting for inventory. Linda, would you like to add anything?
Linda Clements
Yes, so we provide allowance for obsolescence within our inventory and really scrub that pretty well at least quarterly. We also have some protection in our customer contracts to certain inventories. So, we do believe we do not have that we have kind of managed their exposure there.
Clarence Granger
That net inventory includes about 12% reserve, is that it?
Linda Clements
Clarence Granger
Then flow, so we have already factored in 12% of the inventories being obsolete.
Edwin Mok - Needham & Company
Great, sorry I have to squeeze one in. Just on gross margin, you guys have negative gross margin last quarter because of fixed cost itself and then you guide in for revenue around flattish relative in this point. Do you still visualize negative gross margin in the coming quarter or will the restructuring help flow with that, help reduce the fixed cost assumption there?
Linda Clements
This is Linda. We still expect to have a negative gross margin in Q2 while overall, we are reducing our cost. We kind of reduce across the board so we still will experience a negative gross margin in Q2 or at least that is our forecast.
(Operator's instruction) Your next question comes from the line of Timothy Summers - Wunderlich Securities, Inc.
Timothy Summers - Wunderlich Securities, Inc.
So Clarence, on the guidance, let me just run through the math I have got here. You are saying your business has stabilized and you did basically $22.5 million in the quarter. If we add 10% unto that for FEI in 2Q, kind of revenue run rate of $25 million in 2Q. I know you have already given guidance but is the way I am looking at that reasonably correct?
Clarence Granger
Yes, it is reasonably correct. I guess the only thing I would say on the downside is we had not seen much decline in our medical equipment customer, intuitive surgical and lately, they are seeing some declines. Essentially, it is an issue with funds that hospitals have to invest in new equipments so I would say they are down about 10% to 15%.
Timothy Summers - Wunderlich Securities, Inc.
Is that 10% to 15% quarter over quarter?
Clarence Granger
Timothy Summers - Wunderlich Securities, Inc.
And secondly, on the last, on the fourth quarter earnings call, you guys highlighted several times that the OEMs were reworking their inventory and I know they were doing that in the first couple of months this quarter. Have you seen that abate somewhat and do you anticipate that to be an issue into 2Q?
Clarence Granger
Sure, Tim. It is Clarence again. It will still be an issue in Q2. There are some areas that we are still seeing that our customers have some inventory, however, it is definitely coming down so I would expect the rest of that to be consumed during Q2 and by Q3, I would expect that to be abating significantly.
Timothy Summers - Wunderlich Securities, Inc.
Okay and is there any way you can quantify how much that impacts your revenue line on a quarterly basis?
Clarence Granger
Tim, I will have to go back and do an analysis. We really do not have anything that we have done on that right now. I will try and give you at our next earnings call. I will try and give you some feedback on that.
(Operator's instruction) Your next question comes from the line of Jay Deahna - Individual Investor.
Jay Deahna - Individual Investor, JP Morgan
Couple more questions. First of all, Varian, I believe you guys are getting deeper there. I am just wondering how that is progressing and when we can see that potentially be a broader customer for you.
Clarence Granger
Yes, we are very comfortable with Varian. We continue to expand our market opportunity there. Unfortunately as I am sure you are aware, they are not shipping very many systems at all and unfortunately, the ones that they are shipping, they do have existing inventory that they are utilizing. So, we are very comfortable. It is hard for me to quantify it at this point in time but they are very interested in expanding their relationship with us and they are interested in not extending their internal manufacturing capabilities as they recover from this down turn and so we have been, we would like to believe that we will have significant opportunities moving forward.
Jay Deahna - Individual Investor, JP Morgan
Okay, in terms of your pipeline of new business opportunities, obviously FEI was a big deal for you in the first quarter. We did not hear about any new design wins at the rest of your customer base such as Applied. Is your pipeline of new design activity that could turn into new mandates, how does that compare to where you have seen at the past?
Clarence Granger
Well, first of all, it is very full. It is also very similar to what has been in the past so we have not seen any decline in our new business opportunities actually if anything is going up. One of our big opportunities relates to, at the transition of Applied Materials to a larger presence in Southeast Asia. They have been a little bit slowed down on that so that has maybe slowed things down a little bit in terms of an actual transition but we are very confident that we are very well positioned to benefit from that as they start to move ahead.
Jay Deahna - Individual Investor, JP Morgan
I presume you are talking about down shifting their final assembly for a certain products anyway to the back half of this year from Austin to Singapore.
Clarence Granger
Yes, we are talking about their future Singapore facilities, yes that is correct.
Jay Deahna - Individual Investor, JP Morgan
Okay. So, if you look at Applied shifting a lot of their final assembly to Asia from Texas, the general desire of companies like Varian not to ramp up their internal manufacturing as they come back up into the next cycle and the increasing Asia centric nature of equipment demand, do you think that as we roll through the next couple of years into the next cycle that your business out of your China facility will be a larger percentage to your sales versus the last cycle and if so, what kind of impact can that have on your operating margins versus last cycle?
Clarence Granger
Sure. Well, first of all with regard to our long term expectation in China, as you know, we set up our first manufacturing location in China in March of 2005 and so that has, we think we have done an excellent job in preparing ourselves for future transitions to Asia. So, we opened our first facility in Shanghai in March of 2005. We opened our second facility in Shanghai fairly close to the first one in November of 2007. I would anticipate when the industry started to recover and within the next few years, the majority of our manufacturing greater than 50% of our manufacturing will come out of Asia. Currently as I mentioned in the script, 18% is coming out of Asia. When we do transition to Asia, we do capture higher margins due to some of the lower cost that we experienced in Asia.
So, we would expect our operating margins and our gross margins to increase as we transition to Asia. Our model is a gross margin of 18%, operating margin of 11%. We still believe that is very achievable when we return to higher levels of revenue and transition more to Asia. So, that is still our long term target, Jay, is to achieve 18% gross margin, 11% operating margin with a higher percentage of revenue in China as we start to come out of this next downturn.
Jay Deahna - Individual Investor, JP Morgan
Okay and two more quick ones for now, first of all for Linda, when you said you are expecting a negative gross margin in 2Q, is that at the entire range of revenue guidance for the quarter? In other words, if you hit the higher end of the revenue guidance, you still expect the negative gross margin?
Linda Clements
No, Jay. The negative gross margin is up to midpoint. So, we would expect to have a small negative gross margin at the midpoint but at the higher end of the range, we expect positive gross margin.
Jay Deahna - Individual Investor, JP Morgan
Okay and then Clarence, let us say, I believe if I recall from the last call you guys are targeting cash breakeven around $35 million. Is that still the case? And once you cross over that and go cash flow positive, what are the priorities between I guess paying down a line of credit, buying back stock or making acquisitions?
Clarence Granger
I will let Linda address the cash flow breakeven.
Linda Clements
So, Jay right now, our cash breakeven looks like it is about $38 million at our current level.
Clarence Granger
So our target is still to get down to 35 and we are very confident that we can do that. Obviously, we have got some other actions in place to do that. But going back here, the correct question, what are we going to do with the money when we start getting back to cash flow positive? I think there are several ways we could spend the money. We could pay back our debt. We could buyback more stock or we could look at other acquisitions or we could just sit on the money.
We are paying the revolver down according to our terms. We are very comfortable with our current payment schedules. So, I have no additional desire to accelerate any loan repayment and we would not anticipate doing that. In terms of buying back our own stock, we have done that in the past. At that time, we thought there were no other better alternatives than buying back our stock. Right now I think there are probably better alternatives or better opportunities out there in terms of potential acquisitions.
We think in a downturn like this, there are likely to be potential acquisition opportunities that are going to make sense from a long term strategic standpoint. We are not acquisition crazy. We have only done one in the last three years of a company called Sieger but it has worked out very well for us. So, I would say the most likely scenario if the right opportunity came along would be to consider an acquisition.
Jay Deahna - Individual Investor, JP Morgan
Okay, I got two more but I will step out of the line right now after I congratulate Edwin on his baby.
You have a follow up question from the line of Edwin Mok - Needham & Company.
Edwin Mok - Needham & Company
Two housekeeping questions; one is, what was the depreciation in our cash flow for the past quarter?
Linda Clements
Depreciation was, it was down about $500,000 from Q1 so that was seated about, actually I do not have that number right in front of me and I apologize for that. Can we get back to you on that one?
Edwin Mok - Needham & Company
Yes, no problem at all. And then, just quick question on tax, so tax rate you guys have recorded 32% last quarter. How should we model that going forward?
Linda Clements
Well, we believe that 32% is appropriate rate for this year. We use an effective tax rate for the year and so that is what it looks like this year should end up at.
You have a follow up question from the line of Jay Deahna - Individual Investor.
Jay Deahna - Individual Investor, JP Morgan
First of all, Clarence, it started last cycle Ultra Clean was a gas delivery subsystem supplier almost exclusively focused on some equipment and by the end of the last cycle, you are serving foreign markets, building many different types of subsystems and full systems. So, what I am wondering is in the last revenue peak, Ultra Clean annualize was about $440 million based on taking your peak quarter among divided by four. Now, that happened in tandem with a $60ish billion global semi CapEx figure that was calendar 2007. Just wondering, do you have any idea if what level of global semi CapEx roughly Ultra Clean could kind of get back to that $400 million to $450 million revenue level? I mean, obviously it depends what other markets are doing and there are some moving parts there but I am just wondering, do you think you can do that on $30 billion or $40 billion in global CapEx? I am just trying to gage it.
Clarence Granger
Sure and again, we are just taking rough estimates here but if you look at that time that you are talking about, roughly 70% to 80% of our overall revenue came from gas delivery systems. We are down to roughly half that right now. So, my expectation would be that we could probably those same revenue levels and same margin levels at about half the semiconductor equipment demand. So, it is somewhere in the $30 billion to $40 billion range.
Jay Deahna - Individual Investor, JP Morgan
And then lastly, obviously we are all worried about the general economic trends and the general semiconductor cycle trends and what not but if you just kind of push that aside for a moment and focus on what you are trying to do tactically and strategically with Ultra Clean Holdings, what are the primary companies specific execution risks that keep you up at night?
Clarence Granger
Everything keeps me up at night, Jay. First of all, the macro still is kind of the overwhelming thing once we come out with recession or whatever it is, once we come out of that, I know we will do well but in terms of company specific, the biggest one right now for me is employee related so we have forced everybody to take pay cut time off. Some people that are on very low, the morale is pretty low. I am very concerned about what do we need to do make sure that our team is sufficiently motivated and wants to stay committed to UCT. So, part of that is related to what can I give back to them and the way stock options and other things to keep our key employees motivated and make sure that they do not want to look at ways to jump shift. So, that is primarily what we are focused on right now from a UCT specific standpoint is, how do I make sure we cut cost but keep the core team intact?
(Operator's instruction) And I am showing that there are no further questions at this time.
Clarence Granger
Okay, well at this point, I would like to thank everyone for participating in our Q1 conference call. We look forward to seeing you at the investor conferences or again in our Q2 conference call. Thank you everyone.
This concludes today's Ultra Clean Technology first quarter financial results conference call. You may now disconnect.
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1974 21 Years Old 1 More Event
1980 27 Years Old From 1980 to 1986, Goldblum was married to Patricia Gaul, with whom he starred in Silverado (1985), and from 1987 to 1990, he was married to Geena Davis, his co-star in three films: Transylvania 6-5000 (1985), The Fly (1986), and Earth Girls Are Easy (1988).
1996 43 Years Old Goldblum taught acting at Playhouse West in North Hollywood with Robert Carnegie. It was with several actors from this acting company that he improvised and directed the live action short film Little Surprises, which was nominated for an Academy Award in 1996. … Read More
2006 53 Years Old In September 2006, it was announced that Goldblum was one of the founding members of a new theater company in New York called The Fire Dept. … Read More
2010 57 Years Old Goldblum replaced Chris Noth as a senior detective on Law & Order: Criminal Intent. In the series, Goldblum plays the role of Detective Zack Nichols. In August 2010, media outlets reported that Goldblum had decided not to return to Criminal Intent due to persistent concerns about the program's future.
2014 61 Years Old 1 More Event
In 2014, Goldblum appeared in an episode of Last Week Tonight parodying his role in Law & Order.
2015 62 Years Old 2 More Events
On January 9 2015, Goldblum announced on the Late Show with David Letterman that the couple was expecting a son. … Read More
2016 63 Years Old 1 More Event
In 2016, he reprised his role of David Levinson in Independence Day: Resurgence, the sequel to Roland Emmerich's 1996 alien invasion/disaster film, Independence Day.
Original Authors of this text are noted on http://en.wikipedia.org/wiki/Jeff_Goldblum.
Text is made available under the Creative Commons Attribution-ShareAlike License.
Text is made available under the Creative Commons Attribution-ShareAlike License.

subset: commoncrawl


text:
Lee Funeral Service
Helping Families and Friends Honor Their Loved One
We offer unique opportunities for families to create healing moments after loss. Our experience, coupled with our perspective on the importance of ceremony, will help you discover ways to pay tribute. Whether traditional or unique, these tributes allow us to love, laugh, and live well again.
Funeral Home
818 18th Street
Bedford, Indiana 47421
We have years of experience caring for families, from all walks of life.
Learn More
Funeral Home
431 High Street
Shoals, Indiana 47581
Lee Funeral Home
402 Williams Street
Loogootee, Indiana 47553
- Ferguson-Lee Funeral Home Staff
Jan Siepler, Marjorie Lee, Robert Lee, Nina Doan, Michael Clark, & Greg Ralston
Stephen Kopp, Derek George, & Stephen Underwood


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CLOSED: Panz Veggie Restaurant
3485 Fraser St, Vancouver, British Columbia, Canada, V6Z 1W7
Opened since Mar 2010 at 1355 Hornby St and relocated to the current address for re-opening sometime in 2015 -- please let happycow know when it re-opens! / Vancouver vegan restaurant serving Chinese cuisine. Its name translation means "compassion."
Category: Vegan, Chinese, Take-out, Asian
Reviews (30)First Review by axelboot
Very good Chinese food - Edit
The menu here is quite extensive, so my wife & I only got the chance to sample a small portion of the menu. The food is not amazing, but generally very tasty & good value for money. The sour-spicy soup that we ordered was particularly good. This restaurant is great value, and definitely worth going to if in Vancouver.
Pros: Extensive menu, All vegan, Tasty food
Fantastic Flavors, Food and a Fun Experience - Edit
Slow down and check this place out! Expect to spend some time here but it's so worth it! Panz is DELICIOUS and healthy, but make sure you are ready for a family experience and bring a pen and paper. If you do end up writing out your own order, help the staff out by using the exact name (not just the number) of the entree. That helps them the most. Understand that they think tea is water, so if you want water, you will have to ask. For example, don't just ask for broccoli, ask for Canadian's Favorite Broccoli, and Laughing Tiger and Buddha's Feast; use the exact names that appear on their menus (they give you two menus that are different but mostly the same, except one is pink and has a bit more English descriptors of the dish). The ribs are excellent but you will have to wait until you get there to find look up the proper name to use when ordering (I can't find it online). They are kind, they will appreciate your understanding, and the food is amazing. I read that dinner might take 2 hours, and it did, so just be ready for that and you will have a great time. I recommend the Won Ton Soup, The Masala Soup (spicy and flavorful), Laughing Tiger (excellent flavor with taro, jicama and even some string beans), Buddha's Feast (unique and tasty with mushrooms, bean curd sheets and aduki beans), and the rice is mixed whole grain. Canadian's Favorite Broccoli is really just regular broccoli with baby corn (if you like broccoli then that's your dish). The ribs are decadent and orange TASTY. I got up to order, I got up for water and I got up to pay. There are 2 different dishes with Tiger in the name, just know that. The people are wonderful. Take your time and enjoy this experience!
Pros: Excellent Flavors, Great Food, Amazing Soup
Cons: Expect 2 hour meal time
Cheap with utensils - Edit
I called to order take-out, the receiver on the other side was not only rude and not helpful. When I did get there to pick up my food, the person who picked up the phone told me that if I wanted extra utensils, I had to pay extra, since the "economy's hard."
This is the first time I've ate food from this restaurant, however the food was decent. Just really awful service.
Pros: Quick food, Vegan
Cons: Rude, Cheap, Unhelpful
Amazing semi-hidden vegan gem!! - Edit
I love eating there, the vegetables are crisp, delicious and fresh.
I go there often, I also grab to go from there. Love the service! delicious and unbeatable weekly lunch specials!
If you are into Chinese style food, you need to try this place out.
Pros: Crisp and delicious vegetables, Really cool atmosphere, Unbeatable lunch specials
Cons: If only they delivered
Vegan and kind to veterans? What else do you want? - Edit
Seriously, what other place feeds veterans for free and wants a picture taken with them?
I mean, I am no veteran but I am thankful for their service and I could not be happier than eating at a restaurant that is so kind to them. It almost brought a tear to my eye when I saw the little notice with the poppy...
Panz, you have great food, and for this gesture, I love you more than any other vege joint. You have my loyalty!
You rock!
yummy Chinese food - Edit
This is a delightful place and the owner is very nice and helpful.
We needed gluten free and she was very accommodating.
I had a yummy veg and noodle bowl which I could not finish and had the remainder for breakfast the next day.
I will be back
Pros: very tasty, owner is very nice and accommodating , huge portion
Cons: none
Great Lunch Low Price - Edit
After spending the day walking around Vancouver, my wife and I decided to try this place out. The lunch special was our choice. Something like 7.50 each. Includes tea, soup, spring roll, 5 grain rice or chow mein noodles and a choice between 6 main dishes. Amazing flavours and great amount of food for this price. The meal was fantastic. The restaurant very clean and pleasantly decorated. Highly recommended.
Pros: Price, Original Flavour, Good Portion Size
Cons: Not In My Home City
Very Good - Edit
I'm not a vegan nor a full fledged vegetarian, in fact I wasn't expecting a very good meal. I couldn't have been more wrong. This was very good, our table ordered about 4/5 dishes and we all shared - I enjoyed every one of the dishes even the desert!
Pros: Price, Great taste, Atmosphere/service
Cons: Off the beaten path , Some ingredients I didn't know
Good food, reasonable price - Edit
The service was quick (there was only one other group), and the food was good. The place had free WiFi. Lunch specials 11:30-4:30pm (mains for $8 rather than $10, without tax).
Pros: Good food, Reasonable price
Good in general - Edit
I went there few times for lunch and dinner. They have a lunch special going on for $7.99 from 11:30 am – 4:30 pm. In general the food was good, but to me it was a little too blend. I wouldn`t even mind this but I wish the staff spoke english so I could ask questions about what I`m ordering....
Pros: Good Value especially for lunch, Nice vibe, fast service
Cons: Staff doesn`t speak english, a little too blend
Excellent! - Edit
I visited Panz twice while I was in town on vacation. Tried the Buddha's Feast, sweet and sour soy spareribs, soya ham (fried noodles), curry vermicelli and the spring rolls. It was all delicious and I only wish I lived in Vancouver so I could try even more!
The location is convenient just south of the city centre (an easy walk). The prices are good ($10 per entree and $6.50 for appetizers as of July 2013) and the portions are of a good size.
If I had to pick two items out of the ones I tried, I'd go with the ribs and the soya ham.
If I'm ever back in Vancouver, I'll definitely visit again. Highly recommended.
Updated from previous review on Friday July 26, 2013
Pros: good food, reasonable prices, quick service
Great food - Edit
The menu has no descriptions but the friendly server explained each dish to us. The spare ribs were excellent as was the mung bean jelly (salad).
Pros: inexpensive , friendly and quick service, casual
Horrible Customer Service!!! Mediocre food! - Edit
Today I went to Panz Veggie and ordered the Won Ton Soup (what used to be the best won ton soup around). I was very disappointed to find it has changed dramatically. The won tons used to be filled with fake meat but now contain potato. These are the blandest won tons I have EVER had!! When mentioned to the owner asking why they have changed she became very defensive and told me it had not changed whatsoever. With most resturants if the customer is not happy they will make you another plate or not charge you for the particular dish. The owner did not try to make me happy, or redeem her resturant whatsoever.
The rest of their food is overpriced and medicre. WORST CUSTOMER SERVICE, I will not be returning to this resturant again.
Cons: Expensive , Customer service, Mediocre food
What a find! - Edit
We were holidaying in Vancouver when quite by chance we spotted Panz... given that we hadn't checked for any nearby veggie places this was a real find for our last evening. If we'd been staying longer in Vancouver we'd have definitely gone back! As other reviewers have commented, the menus are a little short on descriptive detail, but the helpful waiter was at hand to answer our questions and make suggestions.
The meal was delicious, and portions generous - the 'Buddhas Feast' a feast indeed. The food all tasted like proper home-cooking, not over-spiced of over-salted like so much restaurant food.
Vegan Chinese in Vancouver - Edit
Went to Panz Veggie Restaurant while vacationing in Vancouver. First thing we noticed is that the menus are not descriptive. It has entrees such as Lucky Tiger or Buddha's feast with no description of ingredients so we had to ask about each item. Ended up getting 4 different things and sharing them amongst 4 of us....including chow mein with soya ham, a sweet and sour soya rib dish, a tofu and broccoli dish. The 4 of us, including 2 vegans and 2 carnivores, all agreed the food was very good. They have non-alcoholic beer available. No dessert but we were too full anyhow.
My hangout for a while - Edit
Great stop after sauna at Aquatic Centre...yumm!
Pros: convenient, dwtn, quiet
Great value weekend lunch special - Edit
I had the weekend lunch special, which was a bargain at $9.99. This included a vegetable spring roll, a small bowl of vegetable soup, rice, choice of stir fry dish, and a small dessert.
The food was tasty and filling, if a little on the greasy side. My stir fry - soya spirals and eggplant on a bed of spinach - was very nice.
Service was polite but a little unresponsive.
Pros: tasty food, good value
Cons: unresponsive service, food can be quite greasy
Great dinner! - Edit
My husband and I loved the food! We were delighted to find such great vegan dishes. The egg rolls were SO fantastic! I think a little music would go a long way though(just in case the owner reads this), as well as a description of the selections on the menu. The food was yummy, big portions, and wonderful service.
Pros: Taste, Portion, Location
Cons: No music
Delicious and friendly - Edit
We visited here while on holiday and were delighted with the wide choice of amazing dishes and the warmest of welcomes. I'm not even a big Chinese food fan but this was seriously good and I would make a bee line back here on my next visit.
Pros: lots of choice of food that's all tasty , lovely staff, nice venue
Cons: *
Amazing Chinese food - Edit
The best vegan restaurant in downtown Vancouver. The owner is very welcoming and open to chat with customers. The service can be hit and miss depending on who serves, but the food is consistently delicious. The 3 cup soya sausage is deep fried tofu sheets on glass noodle with basil and soy sauce and it is highly recommended! Unlike many other Chinese restaurants, Panz always serves many vegetables in their dishes and not everything is deep fried so some of it is reasonably healthy. The menu is a bit heavy on soy ingredients but this is consistent with Chinese restaurants. You have to use your imagination to know what the menu items are but if you check their website, the photos will give you a better idea than the dish names. Amazing food if you're ever in Vancouver.
Pros: great value, lots of veggies, great downtown location
Cons: hard to know what dishes are on the menu
I wish I lived in Vancouver... - Edit
On a recent trip to Vancouver we ate here twice, and both times we were amazed.
Excellent service, wonderful food, huge portions, good prices. You really can't go wrong. This is easily the best Chinese restaurant I have ever eaten in, vegan or not, and is now one of my favourite vegan restaurants full stop.
Looking forward to coming back one day.
Pros: It's great.
Cons: It's a long way away.
Disappointing - Edit
My husband and I went in for the lunch special which included soup, your entree and dessert. We were really looking forward to it. In all honesty, we were both very disappointed. The food was fairly bland and just not all that appetizing. The veggie "sausage" my husband got was merely tofu sliced with a batter on it, not at all sausage-like. The price was great but the food was very blah. Quite a disappointment.
Pros: all vegan, good price
Cons: bland food, staff not welcoming
Delicious! - Edit
The virtue and kind fried rice was really good, as was the virtue and kind noodles, which are like chow mein (we had it with broccoli instead of soy ham). The spring rolls are good too. The server was really nice, and they were very accomodating even for my family of omnivores who won't eat tofu or fake meat! I would bring more people here again, and can't wait to go back and try some of the tofu dishes! The decor is nice and modern too. They were also welcoming for my 5 year old niece.
For Business or Pleasure! - Edit
Panz has been a favourite of ours since we first found it, and it's time to add our support for this clean and friendly downtown gem to the list of positive reviews here.
If you're familiar with Buddhist vegan fare the menu will be familiar, though they use some interesting and cryptic labels for some of the more popular dishes! Their soups are always great. If not too busy, we can sometimes talk them into making a hybrid version of the Hot & Sour and Wonton soups; especially warming on a wet, wintery evening. Virtue & Kind rice and Bamboo Hot Pot are not to be missed. We also love the Soya Dices Hawaiian Style, but watch out for the ginger!
Panz is easy to find, on Hornby right across from Il Giardino. Panz doesn't have valet parking or singing waiters, but they don't have the high prices either! If you really need your materialism fix you can always get a table by the window at Panz and watch all the Bentley's and Ferrari's pull up across the street;)
I've taken business guests here frequently and always been happy with the results. Even carnivores are not disappointed. The decor is modern, clean and tasteful and the staff are very friendly. In true Buddhist fashion they are soft spoken so don't hesitate to ask for advice to avoid ordering too similar dishes.
We would urge anyone to support this small, friendly, affordable and delicious alternative on the south side of downtown.
Pros: Friendly, Tasty, Healthy
The best we've had anywhere - Edit
What a fantastic place with a peaceful and relaxing atmosphere! With an enormous menu we took advice from the staff, and the second time we went we had food that wasn't even on the menu. The dishes with several varieties of mushroom were exceptional, and the Buddha's Feast contained at least three vegetables I've never eaten before. We really couldn't manage a whole dish each and were offered a takeaway container for the rest - and we were served with a complimentary bowl of fresh-tasting soup and plenty of tea. It's not only near the downtown area, it's close to the Aquabus ferry from Granville Island - and would be well worth the trip to avoid the overpriced tourist food on the island.
Pros: variety of vegetables, size of portions, the staff
Fabulous! - Edit
Went here for dinner one night with a friend. We were the first table of the dinner rush. The owner sat us and was extremely helpful and friendly. The food came out very quickly and was absolutely delicious. The portion sizes are huge and the entrees are inexpensive. The food is very flavourful and the atmosphere is intimate. I would highly recommend this restaurant!
Awesome Vegan Restaurant - Edit
Found this gem in Vancouver while visiting. Located a short walk from downtown. I can't say enough good things about Panz Veggie. The owner and staff were so nice. The atmosphere very cool and calm. I hear they have lunch specials too. All vegan all the time.
Pros: 5 Grain "Rice", Buddah Delight, Great meal
Cons: not more diners enjoying the restaurant
Best yet - Edit
I can't understand how anyone could give this restaurant anything less than 5 stars. I'd give 10 if they let me. Ambiance: 10. Service: 12. Food: Off the charts. Simply spectacular. I've eaten at well over 2 dozen Buddhist vegetarian restaurants, and this is actually the best. They could stand to expand the menu selection a bit, but being new, I'm giving them plenty of time to do that. If you're in Vancouver, BC, GO THERE! Can't miss.
Pros: FRESH food, TASTY!, Very welcoming service
Cons: Closed Monday :o(, Menu selection needs expansion
Panz Veggie Restaurant, Vancouver - Edit
I've just had lunch here and it was something of a bargain. A small bowl of soup, a spring roll and then a choice of 5 dishes with either of fried or boiled rice or chow mein, all in for $8.95. The a la carte menu also looked very interesting.
The decor is contemporary and tasteful enough and the service was fine. 100% vegan veggie is a big tick in the box for me.
Open Tuesday to Sunday from 11am to 9pm. Closed Mondays. centrally located downtown near to the Granville & Burrard bridges.
Pros: 100% vegan veg, Bargain lunch menu
Enjoyed my Buddha bowl... - Edit
This place just opened, and we had dinner tonight there.
I ordered the spring rolls which were not a good idea as they were far too oily- needed to put them on napkins.
However, my main dish, the Buddha bowl, was very good. It contained a wide variety of interesting mushrooms, bok choy, taro root etc all on a bed of noodles in a tasty sauce.
I would recommend giving this place a visit, and I hope they stay around.
Pros: good service, good portion size, very nice decor
Cons: oily rolls
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14 posts tagged with paralympics.
Displaying 1 through 14 of 14. Subscribe:
"When it comes to left feet, I've got ZERO!"
Josh Sundquist is a Paralympian, a bestselling author and motivational speaker. He lost his left leg to Ewing's sarcoma at age nine and later became a Paralympic ski racer. He also has basketball skills: Scorpion Shot, Alley Oop, Trampoline Shot, Toe Flick.
He has rap ambitions, too. And he finally found his sole mate. [more inside]
He has rap ambitions, too. And he finally found his sole mate. [more inside]
"Truth is, we've been here all along"
Amid a potential financial disaster and accessibility problems, on Wednesday, September 7, the 15th Summer Paralympic Games will begin in Rio de Janeiro. The Rome 1960 Paralympic Games included only eight events. At Rio 2016, athletes will compete in 23 scheduled sports. A list of broadcasters by country is available here. Some sports only have one classification, while others have several... [more inside]
We Are the Superhumans
Channel 4's trailer for the 2016 Rio Paralympics (YouTube) just may be the best thing you see today. Via DangerIsMyMiddleName's twitter.
A short portrait of Alex Zanardi, Formula 1 driver turned Paralympian hand bike world champion. [SLVimeo] [more inside]
"The one with no legs, being carried by the one who could not see."
In 2009, ESPN producer Lisa Fenn worked on a story about two high-school wrestlers, Leroy Sutton and Dartanyon Crockett. Sutton was hit by a train when he was a child and had both his legs amputated; Crockett is legally blind. After the story aired, Fenn stayed in Sutton and Crockett's lives, and the three formed a surprising, enduring bond. [more inside]
"I just do love winning gold. I really do. That's the best colour."
In January 2003, Esther Vergeer, a 21-year old Dutch wheelchair tennis player lost her singles match to Daniela Di Toro in the quarter-finals of the Sydney International. What no one knew at the time was that this was the end of an era. Now 31, Vergeer hasn't lost a singles match since. The world's most dominant athlete in an individual sport, she's going for her 470th consecutive victory today, in the gold medal match at the Paralympics. [more inside]
"That was like a speed bump for him"
On September 15, 2001, at the American Memorial 500, Champ Car driver Alex Zanardi lost both legs, and 70 percent of his blood, in a horrific crash (around 1:40, not for the squeamish). Yesterday, he won gold in the 2012 Paralympics. [more inside]
In 1981, in response to the UN International Year of Disabled Persons, Ian Dury released the single Spasticus Autisticus. Despite Dury himself being disabled, the song provoked a negative response from the National Spastics Society (now Scope). The BBC denied the song airplay, effectively killing it as a single. Last night, as part of the Paralympic opening ceremony, John Kelly, Orbital and the Graeae Theatre Company performed a version of the song to an audience of millions, bringing the revolutionary classic back to the prominence it surely deserves. [more inside]
Irony? That's like goldy or silvery, right?
Atos Healthcare is a French company that's a contractor to the UK department for Work and Pensions, hired to test disabled benefits claimants on whether they're fit to work. If they are, they'll lose their disability benefits and are back on normal unemployment benefits. It is a controversial company, as its standards for declaring people fit to work are very low, as The Daily Mirror has been showing. By design or through incompetence, quite a few people who are clearly incapable of work are declared fit for work anyway, lose their benefits and some of them even die because of it, either through suicide or through the stress and healthcare problems caused by losing their benefits. (previously.) [more inside]
London2012 Paralympics Commercial
A new commercial for the 2012 Paralympics, done in one continuous take without special effects, is "atmospheric, powerful and hugely inspirational, exploring one runner's journey back to the track." (via)
2010 Paralympics
Live online broadcast of the 2010 Paralympic Games (Silverlight required). The Paralympics are back, this time in Vancouver. Sledge hockey, alpine & cross-country skiing, biathalon and curling. You can watch every event live or recorded on ParalympicSport.tv or see some photos at The Big Picture.
Photos of the 2008 Paralympics
Photos of the 2008 Paralympics. Sadly the Paralympics rarely garners the coverage of the Olympics, but thanks to the internet you can witch videos of the competitions at Universal Sports (though it may be region-blocked, require registration and only seems to work on Windows).
When they met, it was Murderball
Anyone up for a quick game of Murderball?
Chess with Violence
Just because you're in a wheelchair doesn't mean you can't have a ruck. Browsing our current favourite website I found myself intrigued. This year's paralympics will again feature Wheelchair Rugby, a sport that has been alternatively described as 'Chess with Violence'. The rules are explained here though I think you might have to actually see a game to figure out how they would work in practice.
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Check in from 14h / Check out prior to 11h
Palazzo Belmonte: Find photos, reviews, information, amenities and compare prices for 4 stars hotels in Santa Maria di Castellabate, Italy.
Located within the scenic countryside of Santa Maria di Castellabate, Palazzo Belmonte provides comfortable accommodation and a full range of facilities, including a 24-hour reception, 24-hour room service and massage services. It also offers bicycle rental, a tour desk and babysitting/child services.
Hotel description
This 4-star hotel provides a safe, laundry facilities and a car rental desk. There are also a range of outdoor activities to enjoy, including horse riding, snorkeling and scuba diving.
Palazzo Belmonte Hotel Castellabate has 50 rooms, all of which are equipped with cable/satellite channels, a shower and a mini bar. Each includes its very own bathroom with a hair dryer.
A satisfying breakfast is prepared every morning at Palazzo Belmonte, and there are numerous cafés and eateries nearby. Lunch and dinner are served daily at the hotel's restaurant.
Salerno Costa d'Amalfi Airport is a 60-minute drive from Palazzo Belmonte Hotel Castellabate. It also provides an ideal location to explore nearby Castellabate and San Marco Di Castellabate.
Hotel features
Room Service, Restaurant, Bar / Lounge, Mini Bar, Cable / Satellite TV, Hair Dryer, TV, Shower, En suite, Private Bathroom
24 Hour Reception, Babysitting / Child Services, Conference Room(s), Multilingual Staff, Safe-Deposit Box, Bicycle Rental, Photocopier, Self Laundry
Tour Desk, Massage / Beauty Centre, Garden, Scuba Diving, Water Activities, Massage
Horse Riding, Hiking, Private Toilet, Packed Lunches
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David Garcia, a reporter at KNBC-TV for the past seven years, is reportedly headed for Fox-owned KTTV under a lucrative deal.Newsroom staffers at KNBC were informed late Friday of Garcia's departure in a memo from news director Mark Hoffman, whom sources said made a counteroffer to keep the station's environmental and earthquake reporter. Garcia, a one-time network correspondent who previously was a reporter at KCBS-TV, worked under KTTV general manager Tom Capra and "Fox News" exec producer Nancy Valenta when both were news directors at KNBC. In his memo, Hoffman praised Garcia's abilities and expressed regret at seeing him jump to the Fox station. The reporter is expected to concentrate heavily on environmental issues at KTTV. The hire is surprising for KTTV, which has been giving every indication that it is going after younger demos for its news with younger talent. Garcia, who could not be reached for comment, is believed to be older than the station's primary target audience. Capra declined to comment, but sources said the former KNBC execs have made a run at other behind-the-scenes and on-air personnel at the Peacock O&O.
Garcia exiting KNBC for KTTV environment
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GoingOutGuide Museums
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A Classy Show Of Pride
Scurlock Photographers Captured The Dignified Face of a Harsh Age
By Wil Haygood
Washington Post Staff Writer
Monday, Feb. 2, 2009
The Scurlock men loved beauty. A dad and two sons, they prowled this city with their Graflex cameras, pointing and clicking from morning into the deep night. Through their cameras, the world looked sweet, even lush.
Never mind that a good amount of their work was done from the 1920s through the 1950s, when much of black America was enduring a daily harshness.
Addison, the dad, started it all, taking pictures over on U Street, hanging out with jazz folk at night and swearing to naysayers he could make a go of it. He imagined a photographer's life could put food on the table.
It took guts for a black man to dream the way Addison Scurlock did. The Harlem Renaissance hadn't exploded yet when he began to capture a swirling world of Washington men in long coats and fedoras, women in silk and fur. He and his two sons, Robert and George, wanted to capture the way sunlight landed on their subjects. They introduced the viewer to the joy their subjects -- actors, musicians, socialites, artists -- had in simply being alive.
Duke Ellington, Cab Calloway and Marian Anderson praised the Scurlock crew, but so did students over at Howard University, when that institution was a place for the children of the nation's black elite. And countless men and women from the city's black middle class, who took high tea, held soirees, staged book readings and vacationed over on Maryland beaches, depended on them as well.
The style of their work -- silky, refined, dignified and poised -- became known as "the Scurlock look." It said a lot of things, chief among them that classiness is swell and uplift gets rewarded.
Now -- four years after the last Scurlock photographer, Robert, died -- the Scurlocks are moving from U Street into the Smithsonian. An exhibit, "The Scurlock Studio and Black Washington: Picturing the Promise," has just opened and will run through November. It is the first exhibition presented in the National Museum of African American History and Culture Gallery, which is located in the National Museum of American History. The African American Museum will have use of the gallery space until its own planned opening in 2015.
The Scurlock exhibition highlights more than 100 black-and-white photographs that were taken when the world was very different for people of color. It was a world where reports of lynchings were in the daily newspapers, along with "coon" ads for minstrel shows.
"In some ways what amazes me about the Scurlocks," says Lonnie Bunch, founding director of the National Museum of African American History and a Scurlock historian, "is, how do people believe something when they shouldn't believe it? There was nothing that told Addison Scurlock he could counter the stereotypical elements in black life at the time. But he countered it."
Washingtonians have doubtless seen a bootleg print here and there of a Scurlock image in local storefronts, but the original prints are so textured and detailed that sepia music swirls about the subjects and their surroundings. Bunch believes the exhibition will not only cement the Scurlock legacy, but also spread it to a national audience.
Here stands Fredi Washington in 1934, as beautiful a figure out of Hollywood as has ever been seen. She has just starred in the movie "Imitation of Life," and was passing through town doing publicity. The movie was about miscegenation and "passing" for white. The portrait is Robert Scurlock's first big-time assignment for Dad. Washington, whose sister married Adam Clayton Powell Jr., is holding a cigarette in her left hand. Though a black-and-white portrait, the red lipstick seems to zoom into the camera. The actress's film career never took off: Studio moguls suggested she pass herself off as white -- art imitating life. She refused. Family pride meant something to her.
The Scurlock family biography is one of simple grit, as well as fortuitous connections. Addison arrived in Washington from North Carolina in 1900. He apprenticed with Moses Rice, a local white photographer, before going off on his own in 1904. (He opened the U Street studio in 1911.) In time, Scurlock met W.E.B. Du Bois, the renowned civil rights leader and editor of the Crisis, the NAACP magazine. Du Bois liked Scurlock's work, and many Scurlock photos would be published in the Crisis. Editors from black-oriented newspapers came calling, too, and soon Scurlock images were being viewed at breakfast tables all over the country.
Another fortunate Scurlock alliance occurred with Howard University, for which the Scurlocks served as official photographers for almost 90 years. "When you think of a family business that opened anywhere in America in 1911 and continuing until 1994, it's just a tremendous success," says Michelle Delaney, an associate curator at the National Museum of American History and co-curator of the Scurlock show. "When you think of the circumstances of segregation when Addison was working, it is just incredible."
Aside from common economic obstacles, Scurlock had to contend with the fact that President Woodrow Wilson, elected in 1912, supported a policy of segregation in the federal workforce of Washington. But Addison Scurlock kept snapping away.
If there is an unsung hero of the Scurlock saga, it is Addison's wife, Mamie. She worked beside her husband all her life, managing the studio and its business affairs. She was meticulous in her habits and passionate about collecting overdue bills. She herself was beautiful and fond of wildflowers. On some weekends the couple took trips to the Virginia countryside. She would pose for her husband, flowers in hand, nothing around her save land and trees.
Most everybody on U Street knew Duke. After all, he'd been raised over on Ward Place NW. One of his first bands was called the Washingtonians. Here is Duke Ellington in a double-breasted cream-colored suit. He's wearing a checkered shirt and white tie and there's a white hankie in the breast pocket. The smile's a killer.
The Scurlocks' work began to gain wider recognition in the 1980s and 1990s. But they were still in the shadow of Harlem's celebrated lensman James Van Der Zee, who had a 1969 show at Manhattan's Metropolitan Museum of Art. Any black photographer discovered thereafter seemed to suffer, fairly or not, in comparison with Van Der Zee.
Van Der Zee focused on fashion and Harlem's black middle class as well as political and religious figures. But he also aimed his camera at less savory aspects of Harlem life, such as crime and gut-wrenching poverty. Bunch says of Addison Scurlock: "He was such a good photographer that I do wish he would have focused a little more on D.C.'s alley life, or the large number of migrants who thought this was the promised land and found out it was hell."
After the Met show, Van Der Zee became the subject of essays and magazine spreads, as well as books. "Scurlock's praises have been sung, but Van Der Zee has been lionized," says Paul Gardullo, co-curator of the Scurlock exhibition. Gardullo says the Scurlocks purposefully stuck to a particular oeuvre: "They don't get into poverty. It wasn't their project, and there simply wasn't money in that."
But Robert and George Scurlock, now both deceased, wanted their work and their father's work to survive. So in 1994 they contacted the Smithsonian. "This was an opportunity to bring the history of black Washington into the Smithsonian," Delaney says. "It all happened -- their work -- just a few miles from where I sit every day."
"We're just so proud these photos have captured the beauty of black America when black America was on the road to equality," says Jacqueline Scurlock Corbett, George Scurlock's daughter. "But I don't think they've gotten the notoriety of a James Van Der Zee."
Six women in cloche hats sit in the bleachers at Griffith Stadium in the 1920s. They each display effortless style. One has a fur draped around her shoulders. The wind must be whipping; it's football season and hard into fall. Maybe some of them have beaus down on the field. Maybe they're already plotting a night out on U Street.
The riots came in 1968. Addison Scurlock had been dead four years. George Scurlock was at the studio the day the Rev. Martin Luther King Jr. was assassinated. There was no time to worry about catching beauty. He got himself into position and started snapping: Got some pretty good shots of soldiers marching down sidewalks, smoke shooting into the air from the fires, firemen trying to stop those fires.
But the beauty, through time, lives on:
Seventeen dancers, male and female, pose at the Club Prudhom on U Street circa the 1930s. The gents are in tuxedos with shiny lapels. The women are in silk and dance shoes. The world is harsh beyond the club, but inside, with Addison Scurlock snapping away, it looks beautiful.


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40 CFR 63.1319 - PET and polystyrene affected sources
(a) Except as specified in paragraphs (b) and (c) of this section, owners or operators using a control or recovery device to comply with § 63.1316 shall comply with the applicable recordkeeping provisions specified in § 63.1315(a), except that, for the purposes of this paragraph (a), references to group determinations (i.e., total resource effectiveness) do not apply, and owners or operators are not required to comply with § 63.113.
(b) Records demonstrating compliance with the applicability determination procedure for PET affected sources using a dimethyl terephthalate process. Owners or operators complying with § 63.1316(b)(1)(i) by demonstrating that mass emissions per mass product are less than or equal to the level specified in § 63.1316(b)(1)(i) (i.e., 0.12 kg organic HAP per Mg of product) shall keep the following records.
(1) Results of the mass emissions per mass product calculation specified in § 63.1318(b).
(2) Records of any change in process operation that increases the mass emissions per mass product.
(c) Records demonstrating compliance with temperature limits for final condensers. Owners or operators of continuous process vents complying with § 63.1316(b)(1)(i)(B) or § 63.1316(c)(1)(ii) shall keep records of the daily averages required by § 63.1318, per the recordkeeping provisions specified in § 63.1335(d).
Title 40 published on 2015-07-01
The following are ALL rules, proposed rules, and notices (chronologically) published in the Federal Register relating to 40 CFR Part 63 after this date.


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11. Lance Armstrong
Seven-time Tour de France winner
Inspires Millions of cancer survivors
Did he or didn't he? It doesn't matter to cancer survivors. While weathering (at least for now) a flurry of doping allegations, Lance Armstrong, 40, has spearheaded one of the most successful fundraising initiatives in history. His $400 million Livestrong foundation has become an international force in the fight against cancer. In 2007, Armstrong successfully campaigned across Texas for Proposition 15, which commits $3 billion toward cancer research over ten years; last year he lobbied the state of California to create a 2012 ballot initiative that would impose a $1-per-pack tax on cigarettes to generate some $855 million for cancer research. And last fall, Livestrong opened the Cancer Navigation Center, a $575,000 free-counseling facility in Austin.
By the Numbers Three million: followers on Twitter
Second Opinion "As a celebrity and a cancer survivor, Lance Armstrong has raised funds for cancer treatment for thousands of people around the world," says former President Bill Clinton, who works with Armstrong through the Clinton Global -Initiative. "Livestrong is working to make the latest medicine and technology available to people on every continent."


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47 CFR 80.1075 - Radio records.
Beta! The text on the eCFR tab represents the unofficial eCFR text at ecfr.gov.
§ 80.1075 Radio records.
A record must be kept, as required by the Radio Regulations and § 80.409 (a), (b) and (e), of all incidents connected with the radiocommunication service which appear to be of importance to safety of life at sea.


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Newegg.com - A great place to buy computers, computer parts, electronics, software, accessories, and DVDs online. With great prices, fast shipping, and top-rated customer service - once you know, you Newegg.
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The Cypress is a free standing 2-pole design with shock corded fiberglass poles with aluminum ferrules. The ferrules are the "connectors" that hold the poles together and we use aluminum, rather than steel, because aluminum can never rust. Our fiberglass poles are one size larger than normal to offer you a sturdier, stronger tent. We use lightweight but strong polyester fabrics. The walls are uncoated so the tent can "breathe" under the urethane coated fly. The fly uses a pole in the top, which gives you an awning over each door for excellent rain protection. Our fly is full length on the sides, not 3/4 length like some others, for better weather protection. We even have our factory seal the seams on the floor and fly for maximum water repellency. Entry and exit are enhanced with 2 doors, which means if you have to get out at night, you don't need to crawl over the others to get to the only door. The second door is also nice for extra ventilation in hot, muggy weather. The door zippers are an extra large #8, which is one size larger than most, for extra durability: Features: Free Standing 2 Pole Design with Fiberglass Poles. Easy Assembly with Pole Clips that quickly snap over the tent poles. 210D 110T Nylon Oxford Floor with 1500mm Coating. Extra Guy-outs on Fly to stabilize the tent in bad weather. Weatherproof Fly Buckles to tent for maximum adjustability and protection. Mesh Roof Vents increase ventilation and improve star gazing. Factory Sealed Fly & Floor Seams give best weather protection. 75D 185T Polyester Fly resists UV damage and stays taut. Extra Large #8 Zippers on both doors for extra durability. Easy Entry & Great Ventilation with 2 Doors (both with zippered mesh windows). Weatherproof Fly with a Ridge Pole provides an Awning over each Door. Materials: Fly: 75D, 185T, Poly Taffeta, 1500mm Multi-pass Urethane coating. Floor: 210D, Poly Oxford, 1500mm Multi-pass Urethane coating. Walls: 75D, 185T, Poly Taffeta. Mesh: Nylon No See-um Mesh, 40D. Included: Rain fly, Fiberglass Poles, Pole Bag, Stake Bag, 7075 Aluminum Stakes, Guy Ropes, Repair Swatches, Gear Loft, Mesh Storage Pocket, and Tent Bag . Specifications: Base Size: 5' x 7'6. Center Height: 4'. Tent Area: 38 sq. ft. Tent and Fly Weight: 6 lbs. 6 oz. Total Weight: 6 lbs. 15 oz. Packed Size: 6" x 24". Pole Diameter: 8.5 mm. Style: 2 pole freestanding. Use Rating: 3 Season. Sleeps: Two.
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Word mark
Trademark: 'IAMA'
On 1. 6. 1999 the community trademark application no. 001192038 was filed for IAMA (Word mark) by National Automatic Merchandising Association before the OAMI.The goods and services in respect of which registration of the trademark was sought are in classes 16 and 35. The current status of the trademark is registration expired.
Status is 'Registration expired'
The Community Trade Mark has not been renewed by the trademark owner and has therefore expired.
|22. 6. 2000
|Expiry date
|1. 6. 2009
|Nice classes
|16, 35
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It's in the nature of things that neither peace nor wars last for ever. No surprise then the war in Afghanistan is drawing to a close - the verdict who won and who lost will be given by history. If Pakistan's war on terror is also headed in that direction on the face of it there is not much in evidence.
In fact opposite to that appears to be in the making with a sharp uptake in the incidence of terrorism over the last few weeks. The high-profile murder of the ANP's topnotch leader Bashir Bilour, the Pakistani brand of Taliban stormed a Levies post and took away some two dozen Levies and shot them dead. Some other brand of terrorists ambushed a bus carrying Shia pilgrims in Balochistan killing almost the same number of innocent travellers. Meanwhile, in yet another gruesome attack on a Punjab-bound bus the unidentified terrorists took lives of about half a dozen passengers. But, quite momentously, as their killing-spree continued, the Tehreek-e-Taliban Pakistan raised 'flag of peace' by offering to sit with government for talks - of course predicating parleys upon a host of preconditions which no one in right mind can accept. Then followed it up by releasing a video explaining as to what those preconditions are. Obviously, the TTP offer has been largely ignored by the Pakistani authorities; as strongest rejection came from the ANP government that had lost one of its top leaders in the suicide attack owned by the TTP. Then there was that small chink allowing light to shine up the peace option; someone in the TTP said no one should expect the Taliban to lay down arms - a stance ANP chief Asfandyar Wali has no beef with. Addressing a condolence reference in honour of Bashir Bilour the other day, he said his party 'did not want Taliban militants to lay down arms, but only to renounce violence and take the path of dialogue'. Howsoever small that commonality shared by the TTP and ANP chief may be one would like to see in it - even at the cost of being branded overtly optimistic - right potential for kick-starting peace talks with the TTP.
After years of hardest fight given to the TTP insurgency in the tribal region the fact remains that the Taliban have not been defeated; they are not even weakened enough to foster hope of them surrendering. They have been striking at targets of their choice, including most sensitive security installations. Taliban's ability or prowess to 'persevere' could be gauged from the fact that full-throttled military operations, extensive use of air and ground power and drones that are regularly employed have so far only reinforced the measure of their determination not to run away. This is a truth, though very bitter, but an inescapable reality. Without realising it as it obtains today "meaningful talks" with the Taliban insurgents - the ANP chief wants the federal government to set in motion - won't be possible. Initiating peace talks with the TTP is for Islamabad to do; his party government in Khyber-Pakhtunkhwa can only fight back and it has done it at an enormous cost of life and limb. Even if neither the Taliban nor the ANP government betray any sign of giving in to a discerning mind the time has come for result-oriented peace parleys with the TTP. Of course, there is nothing very concrete in terms of TTP willing to sit for talks, but history tells us short of total defeat or victory the contending parties would like to come to the negotiating table brandishing toughest possible positions. But as the parties sit around the same table and talk, they wittingly or otherwise, open a window of opportunity to let in the light of sanity. And the time works to cool down the tempers as war fatigue catches up. On the face of it what the TTP sets as preconditions is simply unacceptable. But then there are many commonalities - like same religion, same country, same history and same people - which can be capitalised to gain weight and tilt the balance in favour of peace. It has to be accepted that the worst sufferers of the Taliban-planned terrorism are the people of Fata, the Khyber-Pakhtunkhwa and the Pakhtun society. If they are asking for peace talks there is no logic that others in the country should reject it. And if the US-led coalition is in talks with the Afghan insurgents in spite of so much of blood-letting on both sides why there should not be a change of mind in Pakistan.


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About Wasser, Cooperman & Mandles
Since the firm's founding in 1984, the attorneys at Wasser, Cooperman & Mandles, P.C. have established a reputation for handling even the most complex and contentious disputes with the utmost discretion. The firm's attorneys understand the sensitive nature of difficult family law matters, and are dedicated to maintaining the privacy of a diverse clientele, including a number of prominent figures in business and the entertainment industry. In recognition of their work, the firm's attorneys have been honored by venerated legal organizations, including SuperLawyers magazine, "Best Lawyers in America", and national directory of attorneys Martindale-Hubbell, which has awarded the firm its AV Preeminent rating, signifying the highest standards of professional excellence. In addition, many attorneys at the firm have been certified as Specialists in Family Law by the California Board of Legal Specialization, indicating that they have demonstrated a high level of experience, proficiency, and commitment in their field of practice.


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Letters presenting a special form of writing
Trademark: 'con.dens'
On 3. 6. 1999 the community trademark application no. 001194091 was filed for con.dens (Figurative mark) by DELLATORRE-VERA S.p.A. before the OAMI.The goods and services in respect of which registration of the trademark was sought are in class 5. The current status of the trademark is registration expired.
Status is 'Registration expired'
The Community Trade Mark has not been renewed by the trademark owner and has therefore expired.
|18. 8. 2000
|Expiry date
|3. 6. 2009
|Nice classes
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$49 Haier 40" 2.1ch Sound Bar 90W Wireless Active Subwoofer (SB-BT21)
Walmart offers Haier 40" 2.1ch Sound Bar 90W Wireless Active Subwoofer (SB-BT21) for $49 (orig. $96.98). Free shipping on orders over $50.
Product Description:
The Haier SB-BT21 is a 2.1-channel sound bar with a 6.5-inch (15.5 cm) wireless active subwoofer. The sound bar comes in a sleek brushed aluminum finish with a metal grill and LED display. It is designed to fit below a flat screen TV without blocking any remote control sensors on the TV. It is Bluetooth 3.0 compatible, features NFC and has optical input, coaxial input and auxiliary input. This 40W sound bar includes two dedicated tweeters, a mid-range as well as a wireless 50W subwoofer to provide a superb audio experience while you are viewing your favorite TV shows.
Haier SB-BT21 90-Watt 2.1-Channel Bluetooth Sound Bar with Wireless Active Subwoofer:
Thanks Maggie
Category: Electronics (other)
Posted on 16 July 2016, 03:22 AM