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The latest Credit Managers' Index (CMI) – set to be unveiled Thursday afternoon at www.nacm.org – is one that carries much for which to be pleased. At the top of that list, is overall the CMI reading itself.
Statistics released later today will show the CMI reversing the downward trend of the last four months and potentially challenging the year's best month results. Within the numbers, categories expected to have performed particularly well include the index of unfavorable factors. Therein, the biggest expected improvements are likely to be in accounts placed for collection, disputes and filings for bankruptcies
"It is far too early to declare that there has been a dramatic turnaround in the economy," said NACM Economist Chris Kuehl, PhD. "The best that can be said about the current CMI number is that a declining pattern was thoroughly broken, and there is some reason to believe that this could be start of a much more positive trend than has been seen through most of the summer."
-NACM Staff
(Note: The complete CMI report for August 2012 contains the full commentary, complete with tables and graphs and is available on the NACM web site. Credit and finance professionals who want to take the next survey will find it open September 17-21! Simply go to http://web.nacm.org/cmi/cmi.asp at any point during these dates. You also can sign up here to be reminded to take the survey on a monthly basis).
Credit Managers' Index for August Sees Large Improvement
Fed Beige Book Economic Roundup Finds Moderate Expansion But Soft Manufacturing in July/Aug
(Federal Reserve) Reports from the12 Federal Reserve districts suggest economic activity continued to expand gradually in July and early August across most regions and sectors. Six Districts indicated the local economy continued to expand at a modest pace, and another three cited moderate growth. Among the latter, Chicago noted that the pace of growth had slowed from the prior period. The Philadelphia and Richmond districts reported slow growth in most sectors and declines in manufacturing, while Boston cited mixed reports from business contacts and some slowdown since the previous report.
Most districts indicated that retail activity, including auto sales, had increased since the last Beige Book report, although Cleveland, Chicago, St. Louis, Dallas, and San Francisco noted the retail improvements were small. Atlanta said that retail growth had slowed, while Philadelphia indicated growth in retail sales was somewhat faster than in the previous report. Boston, New York, Richmond, Atlanta, Minneapolis, and San Francisco recorded strong performance in tourism. Many districts reported some softening in manufacturing, either a slowdown in the rate of growth or a decline in the level of sales, output, or orders; among those with declining shipments and orders, Philadelphia noted that the rate of decline was tempering.
Bankers in New York, Philadelphia, Cleveland, Atlanta, Chicago, and Kansas City saw increases in demand for most loan types in recent months. By contrast, St. Louis, Dallas, and San Francisco indicated that loan demand was mixed, softening, or slightly weaker.
Real estate markets were generally said to be improving. Reports on commercial real estate markets were generally positive.
The Midwest drought has reduced actual and expected farm output, especially cotton, soybean, and/or corn crops in the Chicago, Kansas City, and St. Louis districts. Several districts noted concerns about rising agricultural commodity prices.
Hiring was said to be modest across the Districts, and wage pressures were characterized as contained.
-Source: Federal Reserve
China Showing Signs of Economic Concern
China officially and uncharacteristically appears to be showing concern over slowing growth rates. While, it is laughable on the surface to call 7% or 8% growth a problem, China actually needs to add millions upon millions of jobs every year to keep up with population needs. While inflation and fast-rising food prices are a concern, the Chinese Ministry of Commerce noted significant price increases in recent weeks for staple products like eggs, cabbage and vegetables. Chinese Premier Wen Jiabao and others are eyeing export levels as a way to keep the economic machine in check and growing. To wit, Jiabao called the third-quarter a "crucial period" of 2012 for Chinese growth.
Jiabao is laying out a full-court press, so to speak, to exporters with announced visits to exporting districts intended to boost confidence and measures being put in place such as expedited export tax rebates and reduced fees for companies sending products elsewhere.
Typically a proverbial stone-faced nation that has enjoyed a lengthy string of economic prominence, the mood has shifted a few times throughout 2012. Still the leader of the emerging economies, Chinese officials tried to slow growth early in the year to try to reduce inflation and rampant overheating in the economy. Much to their chagrin, getting growth moving at hot levels again nearly instantaneously has proven to be more difficult then they may have planned. economy-driving growth levels.
- Brian Shappell, CBA, NACM staff writer
Perceived Asian Up-and-Comer Getting Knocked Down a Peg?
The economic travails that have affected the rest of Asia and the world are starting to hit Vietnam very hard. The investments that were expected to propel the country into the Asian elite have faltered, and this has emboldened those who were never all that comfortable with the emergence of the market reforms in the first place.
The nation as a whole has become deeply resentful of those who have amassed fortunes and, now, the government is going after these tycoons with assertions that they have been playing fast and loose with public funds. The reality is that Vietnamese officials have always been corrupt, and that was the normal means of conducting business. The difference now is that those who have not become rich are bent on bringing those who profited down to earth.
Analysis: The growth rate has stalled, and the banks are saddled with debt that is equal to 10% of their assets. This has all but halted the whole privatization process, leaving the country in a kind of limbo between market and state management. It is ironic that Burma now is starting to reach out to the world and the lures of the market system of the Vietnamese seem to be in retreat. It may be only a matter of a few years before these nations trade places.
-Chris Kuehl, PhD, NACM Economist
High Time to "Challenge How People Are Thinking" About Credit Departments
Angela Bradbury, ICCE, group credit manager at UK-based Innospec, Inc., and moderator of the first of five upcoming FCIB roundtable events focused on "The Credit Department as a Profit Centre" noted that there are two kinds of credit managers out there right now: "There are those with flair who are getting involved in the business [and big decisions] and the others who are operating in a very restrictive space.
Getting more involved in the company, getting your voice heard and advancing the role of today's credit professional are becoming not just wish-list type items for today's credit manager but, rather necessities.
"It's not about going in the CFO's office shouting and screaming, it's about showing you're an indispensible service," Bradbury said. "It's not about making life difficult or easier, it's about being a bigger part of the business' bottom line." Bradbury, like 2012 NACM Mentor of the Year Larry O'Brien, CCE, ICCE and a growing group of others, added that too many credit managers don't push the agenda and confirm that his/her outlook and goals are still in line with those of upper management, the finance people or even sales.
The FCIB roundtable events, to begin on Sept. 13 at the Clerkenwell London with Bradbury, are designed to get credit people talking about how to sell the credit department's value to others in a company, the "P.R." it takes for this to work and how to assess the credit and risk assessment expectations that exist at your company (and how to react to them), among other topics. Subsequent events this fall in the FCIB series will be held in Amsterdam, Brussels, Zurich and Dusseldorf.
-Brian Shappell, CBA, NACM staff writer
For more information or to register for the first roundtable event in London, visit http://www.fcibglobal.com/events/event-calendar/details/125-the-credit-department-as-a-profit-centre-your-value-in-the-supply-chain-uk-london.html.
One CAL Chapter 9 Going the Way of Central Falls after Court Settlement?
A bit of compromise can apparently go a long way in Chapter 9 bankruptcy proceedings. After California's mandated negotiations period designed to force creditors and municipalities to work things out previously yielded little in results, one city's Chapter 9 proceedings just got quite a bit easier.
Mammoth Lakes, CA officials confirmed that it has reached a tentative agreement on a settlement of the $43 million court judgment that was won in court by a land developer, a court ruling that almost single-handedly forced the community into insolvency, unlike other U.S. cities that are dealing with problems like pension and health care costs.
"The settlement agreement, including any and all terms, will remain confidential until it is fully documented and executed," said a release on the Mammoth Lakes, CA web site. "While steps are taken to document and seek approval of the settlement, all discovery and litigation among the parties will be put on hold… the town will provide additional information to the public as soon as the settlement documentation is finalized and filed for court approval, which is expected within weeks."
The release did not outline the extent to which the municipal bankruptcy case will be affected. Mammoth Lakes filed for Chapter 9 protection just before the Independence Day holiday.
It's the second time in as many years that parties negotiated a settlement after a Chapter 9 filing was made. Concessions with creditors in an out-of-court settlement between Central Falls, RI and its retired workers following that municipality's 2011 Chapter 9 filing, one of the first and most publicized of the 2011/2012 wave of cases. The filing essentially forced the negotiations.
-Brian Shappell, CBA, NACM staff writer
EX-IM Continues Opening Regional Export Offices
(Press Release) Pacific Northwest small-and-medium sized business owners will have more opportunities to boost sales through exports because of increased presence by the Export-Import Bank of the United States (Ex-Im Bank). Today, at a Global Access for Small Business forum, Ex-Im Bank Chairman Fred P. Hochberg and Senator Maria Cantwell (D-WA) announced the opening of a new Ex-Im Bank office in Seattle, Washington.
This is the third opening of four new regional export finance centers this year by Ex-Im Bank in its effort to assist local businesses in improving their export sales. The center will provide enhanced access to the Bank's products and services, and it will assist local businesses in obtaining export financing to grow foreign sales.
"The Export-Import Bank supports more than 83,000 jobs at more than 100 businesses in Washington state," said U.S. Senator Maria Cantwell. "We know that when we become exporters we increase jobs in Washington state. This new office is a tool for Washington businesses to increase exports and sell Washington products around the world."
John Brislin will serve as the Bank's Seattle regional director, and the new office will be located in the U.S. Export Finance Assistance Center at 2001 6th Avenue, Suite 2600 in Seattle, Washington. Potential exporters may call (206) 728-2264 for more information. This year, Ex-Im Bank has opened regional centers in Minneapolis, Atlanta, and Seattle and is scheduled to open an office in Detroit this fall.
Source: Ex-Im
Credit Profile Study Warns of Doing Business in Places Like NV, GA, FL
CardRatings.com's newly released analysis of the credit profiles based on both business and consumer factors in all 50 U.S. states found many states struggling with problems such as low credit scores, reeling real estate issues and high unemployment. Several in the top five-----Nevada, Georgia, Florida, Arizona and, unsurprisingly, California-----also have problems with public worker health care and pension costs alluded to in previous NACM stories, including eNews' lead article this week (available Thursday). By comparison, North Dakota, Vermont, South Dakota, Montana and Iowa lead the charge with the best ratings in the CardRatings.com study; though it's worth noting that NACM Economist Chris Kuehl, PhD often jokes about several of these that "no one lives there."
CardRatings.com Founder Curtis Arnold noted that the stark difference in practices between the upper tier and lower tier should be noted and "should be food for thought for anyone considering a move or business venture."
-Brian Shappell, CBA, NACM staff writer
Municipal Bankruptcy Seen as Rising Problem by NY-Fed, Moody's
For the better part of a year NACM and contributors like Lowenstein Sandler PC's Bruce Nathan, Esq., have been warning of the potential acceleration of municipal (Chapter 9) bankruptcy as an option for debt-hobbled communities and the potential downstream affects such filings could pose. Within the last week, two notable outfits chimed in on the topic – either directly or indirectly – of municipal defaults, both thinly veiling concern for municipal bondholders.
A new report from the Federal Reserve Bank of New York reveals its analysts found "municipal defaults are far more common than frequently cited statistics suggest." While some analysts have attacked the assertions of the report as misleading, it has certainly laid the foundation to rile the municipal bond market, thought to be a virtual safe haven in the past.
The row comes on the heels of a Moody's Investors Services release in which the ratings agency noted it would be reviewing, with additional depth, nearly 100 municipalities for potential downgrades in a state that already has seen three official filings this year. Moody's also questioned whether a 2011 California law that mandates a 60-day medication between communities and creditors before a Chapter 9 filing can legally go through actually "normalizes" or "condones" partial and/or late-payments to bondholders.
-Brian Shappell, CBA, NACM staff writer
(Note: More on this story in this week's eNews, available Thursday afternoon at www.nacm.org. NACM presents an Oct. 22 teleconference with Nathan on Chapter 9 bankruptcy. For more information or to register, visit www.nacm.org/calendar/details/435-teleconference-chapter-9.html).
Economist: Drought A Short-Term Issue...For Now
As the headlines blare about the ravages of the drought, there is a tendency to get caught up in the frenzy and assume that life in the farm belt will be altered forever. The fact is that farmers are accustomed to the vagaries of Mother Nature, and they adjust.
Last year was the year that floods were going to destroy the farm, and this year it is drought. The corn crop is a loss this year, and soybeans may be next. However, the bean crop is perking up in those areas where there has been some rain. The next big question is whether there will be continued drought in the winter months. That is much more threatening than a summer drought as, in many respects, the drought this year was triggered by the lack of snowpack from last year. Right now this is a bad year, but it came top of several good years, meaning many farmers are prepared to survive it. Another year or two of this, and the situation worsens drastically.
Analysis: The long-term response has yet to set in. The prices paid for cropland have continued to escalate. There is confidence that this land will return to productivity, and nobody doubts that there will be demand for that output. There will be winners this year due to the drought. Those with irrigated fields will reap a substantial reward despite the additional costs of water. The companies that put in these systems have never had so much work. Those who have planted crops that are drought resistant are happy with their decisions. There also are the countries that can expect to ship far more to the US than in the past. All eyes are now on the winter forecasts, which are mixed thus far. At this point the East Coast is expected to be snowy and colder, while the South is expected to be wetter. The really bad news is that the Midwest if forecast to experience drought conditions continuing and/or worsening -- That would set the table for a miserable 2013.
-Chris Kuehl, PhD, NACM economist
Europe Still Has Some Bright Spots
While there have been well-documented and well-founded areas with problems, namely Greece and Spain, as well as an impact on trading partners throughout the globe, there are some European nations still doing well or at least better than before.
Statistics indicate the German economy is back in a growth pattern, albeit at a lackluster 0.3%, after a few signs of weakness. There also are several EU members and nearby neighbors who have managed the crisis well enough to avoid recession and deserve note, NACM Economist Chris Kuehl, PhD, noted.
"The Swedes are also displaying significant economic progress based on solid export activity and a domestic economic surge that stems from the lowered tax burden. Poland continues to prosper with its own burgeoning internal economy and continues to benefit from being the buffer between the Russians and those that want to do business there without getting too close. Even the Irish are starting to make some progress on their own financial mess and now appear to have returned to being just poor, not poor and in distress."
- Brian Shappell, CBA, NACM staff writer
(Note: More including the downside and reliance on Germany in this week's eNews, available Thursday afternoon at www.nacm.org).
NY Fed Study Find Small Businesses Struggling to Garner Credit
A poll of small business owners finds that the perception on the street is that it is unlikely they'll be approved for the credit they ask for – whether via a partial amount granted or full-on denial – so many have simply stopped applying. But there does seem to be some optimism out there for the next year, whether based on tangible signs or blind hope. Meanwhile, interviews from the poll seem to tangentially promote an idea near and dear to NACM: workers need to advance and expand the roles of their positions to boost their stability.
The Federal Reserve Bank of New York unveiled its Small Business Borrowers Poll, which included results that indicated microloans are at a peak demand right now yet remain highly difficult to garner, especially among start-ups. This often is the case even for new businesses run by a proprietor with a sterling credit history. Poll results based on N.Y. Fed polling also found that nearly 50% of those small business that did not apply for credit/bank loans, opted not to do so out of belief and/or fear of rejection. Perhaps that is with good reason as only 13% of those who did apply in recent months and participated in the poll received the full amount requested. Just more than one-third received a portion of the requested amount, according to the N.Y. Fed.
Additionally, interviews included in the Fed's report shined a light on the widely held believe that small business owners do not see smooth sailing for most of the remainder of 2012, even if they are upbeat about things being better at this time next year. But, in the meantime, business owners are preparing as if credit isn't going to come their way, and want employees, from sales to credit, to realize the importance of stepping out of the traditional box of their job descriptions to provide more value and, thus, boost the prospects for the business and their job security alike.
"Whatever you think cash-flow-wise you will need for your worst, worst scenario, like the one you think is never going to happen, double it," said Allison O'Neill, a New York clothing store proprietor interviewed by the Fed. "Everyone who works here wears many hats…Everyone who's here is a sales associate and a social media manager, and a marketing manager, and an inventory specialist…"
-Brian Shappell, CBA, NACM staff writer
(Note: To view the full report, visit http://www.newyorkfed.org/smallbusiness/2012/).
June Exports Top All-Time High
The U.S. exported $185 billion in goods and services in June, according to data released by the Commerce Department, marking an all-time monthly high. The previous record, set just three months prior in March 2012, was $184.4 billion.
"This is the highest value ever recorded for the export of U.S. goods and services," said Export-Import (Ex-Im) Bank Chairman and President Fred Hochberg. "Exporting is paying off for American workers at home, and it is essential we continue to cultivate business overseas to support the U.S. economy."
Over the last 12 months, U.S. exports of goods and services have totaled $2.165 trillion, which is 37.1% above the 2009 total. Since then, U.S. exports have been growing at an annualized rate of 13.5%. Major export markets with the largest annualized increases in purchases of U.S. were Panama (38.1%), Turkey (29.5%), Argentina (29.1%), Hong Kong (28.3%), Chile (28.1%), Russia (26.4%), Honduras (26.1%), Peru (25.5%), Brazil (22.7%) and Ecuador (22.1%).
Despite the reliable positivity of exports over the last several quarters, NACM Economist Chris Kuehl, PhD noted that a number of rare factors helped boost June's figures, and that this type of growth might soon be coming to an end. "The one-off developments include a dramatic burst of activity in a couple of traditionally volatile areas—pharmaceuticals and gems. Together these sectors accounted for half the consumer goods gain," said Kuehl. "If one looks at these motivators for the good month, it is pretty obvious that this is not all that sustainable."
Placing U.S. export figures in greater risk is the fact that other major export countries have seen drastic declines. "If there are export declines in Germany, Japan, Korea, China and Brazil," asked Kuehl, "can the U.S. continue to be the outlier that is seeing expansion?"
- Jacob Barron, CICP, NACM staff writer
To learn more about how to use exports to grow your company, visit FCIB's website at www.fcibglobal.com. For more information on Ex-Im Bank's export support programs, be sure to tune into FCIB's upcoming webinar, "Financial Tools for Export Success," led by Sharyn Koenig, director of Ex-Im's southeast regional export finance center and minority and women-owned business outreach.
US Crop Issues to Have Domino Effect, Ethanol Debate Likely to Accelerate
The critics of U.S. ethanol production have been coming from all directions these days, and news of the most disappointing corn crop yields in decades, some 25% below normal, should only push the conversation forward. And it doesn't help that the predicted output reduction by the U.S. Dept. of Agriculture was even worse than market-watchers anticipated thanks largely to the relentless drought conditions in Central and Midwestern regions of the country.
In a daily business news roundup prepared daily by NACM Economist Chris Kuehl, he penned the following:
This sector has always been controversial, and there are more than a few in the U.S. who would love to see that industry fade away. There are also many supporters who still believe that the U.S. needs the alternative fuel it helps generate as a means to cope with issues like energy dependence and global warming. The crux of the issue now is that corn is in very short supply worldwide and a major food crisis looms. Not only has the U.S. corn crop been wiped out by drought, but the Brazilians are not going to get the yields they had expected either because of too much rain there. As corn prices reach $10 a bushel (and there already in striking distance), the threat of famine grows, and it doesn't seem like a good idea to be subsidizing an industry that consumes 25% of the corn produced in the U.S. annually.
Analysis: The price of corn is so high that no ethanol plant can remain profitable without direct help from the government and, thus far, that is still being provided or even expanded. The United Nations has joined with U.S. livestock producers to call for an end to these breaks and essentially an end to production of corn-based ethanol. The long-term goal was to produce ethanol with something else—switch grass, sugar cane, algae—anything but the food that cows eat. The impetus to make that change may be more intense in the months and years ahead.
Debt Problems, Leadership Finally Hitting French Economy
Even with mounting debt problems in mostly southern members of the European Union, just one year ago many would have scoffed at predictions of a French recession. After all, other than Germany, it was considered a proverbial alpha dog in the EU. Fast-forward to present day and the word recession has become less of a prediction and more of a foregone conclusion.
The Bank of France noted this week that the nation is all but assured to slip into recession within the next quarter. To blame, from the central bank's perspective, is the lack of demand for French-made products out of its trade partners, notably the key duo of Spain and Italy, whose economic struggles are well documented. Still, French prognosticators are saying it should only be a slight recessesion in what carries a similar tone to widespread predictions of the United States having a "soft landing" at the end of the last economic boom circa 2008 (That, obviously, didn't work out so positively.)
In any case, the implications are pretty significant given new leadership's pledge to reduce the budget deficit by 4.5% of GDP this year.
"With an economy in recession there is no way to meet that target without another series of deep cuts in spending or big tax hikes. The unions are threatening a nationwide shutdown if more cuts are proposed and that leaves taxes. And industrial production is at levels not seen since the depths of the 2009 decline," said Chris Kuehl, NAMC economist. "The fact is that France is in real economic distress and there are not many options available at this point."
France's difficult situation was bandied about quite a bit during NACM's Credit Congress event in Texas nearly two months ago. One French-born attendee noted that, like many U.S. voters with partisan politics there, French citizens came to be quite cynical of the incoming or outgoing leaderships' promises amid weakening conditions in virtually all the nations nearby that are linked by the common currency.
"A lot of it is rhetoric and has nothing to do with reality," the Credit Congress delegate and FCIB member noted. "Most people voted against someone, not for someone or something."
-Brian Shappell, CBA, NACM staff writer
Fall FCIB Keynote: Some Asian Markets Relatively Untapped
A U.S. Chamber of Commerce official just announced as a headliner of FCIB's 23 Annual Global Conference in November, has not been shy in urging the federal government to widen its approach to expanding its exporting activity as the best, perhaps, only hope of growing jobs significantly in the short- or medium-term.
Myron Brilliant, senior vice president of international affairs with the Chamber of Commerce, has noted through appearances, like one earlier this year on CNBC, the importance of continuing to pursue new free trade agreements (FTA'S) like the trio that were passed in the last year (Panama, South Korea, Columbia). Brilliant, who will keynote FCIB's conference in Philadelphia (Nov. 11-13), argues that, basically: FTA's increase exporting activity and, in turn, exports create jobs. Brilliant also advocates for pursing additional means to expand market access for U.S. businesses in growing economies like Vietnam and Malaysia, where access is considered far from open. Moreover, working out such deals could help the U.S. set terms on issues such as dealings with state-owned businesses and intellectual property rights.
Brilliant almost certainly will hit on those topics during his trade-and-investment-themed address in Philadelphia as well as offer insight into future opportunities, risks and barriers facing the major trading nations.
-Brian Shappell, CBA, NACM staff writer
(Note: For more information on FCIB's Annual Global Conference, visit www.fcibglobal.com).
5 U.S. Economic Trends for Summer 2012
The summer months present all kinds of interesting economic challenges and they often take on a disproportionate importance as analysts try to puzzle out what happens next. Here are five particularly interesting summer developments to consider:
Impact of summer on employment -- It has been a weaker year for part-time employment than in past years though the numbers of summer jobs was up over last year or 2010. The main problem is that most of the summer jobs that usually go to the younger workers never materialized. By some measures, these opportunities were reduced by 20% from those of 2008.
Factory Layoffs -- These are the months that factories, especially in the auto industry, often idle as they gear up for another season. The laying off of assembly line workers for a few months is so common that those who gather labor statistics figure in these temporary layoffs to keep the data smooth. This year the sector did not start dismissing workers until later in the season and, in many cases, they did not lay anybody off at all. Was this a one-year phenomenon based on demand for cars this year, or has the reâ€tooling been streamlined to the point that layoffs will not be necessary in the future?
Family Vacation as Tradition -- In the last several years, there have been some dramatic shifts underway as the consumer reacted to high gas prices, high rates of joblessness and general angst about the state of their financial position. It was anticipated that this would be another down year, as most of these factors remained in place. The good news was that gas prices fell, and that might have been enough to convince some people to hit the road.
Heat and Drought -- This has been a brutal summer for the farm sector as well as for the general population. Record setting heat and the almost total lack of rain created an unexpected crisis. The crop losses have been devastating, and now the question is whether this is the beginning of a hot and dry cycle or a oneâ€off year. The impact on the consumer will be felt more next year than this one. Commodity prices are only about 15% of the price of food, but there is a cascading impact that will drive overall food inflation up by roughly 5% next year.
Backâ€toâ€school shopping -- Thus far, it is starting off in decent shape. The next two weeks will be the key period, as this will show the mood of the consumer going towards the most intense retail period of the year. If volume is up in apparel and electronics from last year, that will be a very positive sign. If the shopping is more focused on the essentials, that will not bode all that well for the months to come.
-Chris Kuehl, PhD, NACM Economist
Congress Adjourns without Approving PNTR with Russia
Congress adjourned for its annual August recess last Friday without passing a bill to approve permanent normal trade relations (PNTR) with Russia.
This means that Russia will officially join the World Trade Organization (WTO) on August 22, and be well within its rights to increase tariffs on U.S. goods entering the country. Since Congress won't return to work until September 10, the failure to pass a bill before leaving Capitol Hill puts U.S. exporters at a competitive disadvantage in Russia, the world's ninth largest economy, at least until PNTR can be approved.
Immediate passage after the conclusion of the August recess isn't exactly a guarantee either, as Congress is expected to be preoccupied with looming defense cuts and the sequestration details of last year's debt ceiling agreement.
In the final week before the recess, neither chamber of Congress even tried to schedule a vote on two bills that would've approved PNTR with Russia by repealing the Jackson-Vanik amendment, a Cold War regulation that made U.S. preferential tariff rates for Russia products conditional on the country allowing Jews and other minorities to emigrate freely. The amendment is regularly suspended with little fanfare, but its presence on U.S. books allows Russia, under WTO rules, to discriminate against U.S. products until the regulation is eliminated.
Each version of the PNTR bill has been coupled with a version of the Magnitsky Act, named for anti-corruption lawyer Sergei Magnitsky who died in 2009 under mysterious circumstances after serving a year in Russian prison. The House's version would deny visas and freeze the assets suspected of involvement in Magnitsky's death, while the Senate's version would take a much broader approach, allowing the law to be applied to human rights violators outside of Russia and beyond the scope of the Magnitsky case.
Some iteration of the Magnitsky legislation was considered a prerequisite for any bill approving PNTR, as lawmakers were wary of being perceived as having given Russia a free pass on trade without any penalties related to the country's human rights record, especially in an election year. Analysts have noted, however, that PNTR has a time limit, while either version of the Magnitsky Act does not. Congress could easily have approved PNTR ahead of Russia's accession to the WTO and addressed the Magnitsky legislation at a later date.
- Jacob Barron, CICP, NACM staff writer
Russia May Have Grounds to Increase Tariffs on Foreign Exports Soon
The two chambers of the U.S. Congress have until the end of the week to smooth out the wrinkles in two competing plans to establish permanent normal trade relations (PNTR) with Russia. Failure to do so could put billions of dollars worth of American exports at risk when Russia joins the World Trade Organization (WTO) later this month, on August 22.
Congress adjourns for its five-week August recess after the close August 3, meaning that a bill has to be enacted by then if the United States is to have any hope of taking full advantage of Russia's WTO membership right from the jump. Under WTO rules, should the U.S. not have established PNTR with Russia by the time they officially join the global trade body, Russia can increase tariffs on U.S. goods entering the country, ultimately giving goods from other countries going into Russia a competitive advantage over their American counterparts.
Standing in the way of PNTR is the Jackson-Vanik amendment, a Cold War regulation that is regularly suspended as a matter of course. But its presence on U.S. books gives Russia the right to deny U.S. companies access to the markets it will open as part of its WTO accession agreement.
- Jacob Barron, CICP, NACM staff writer
(Note: More in this week's edition of eNews, available late Thursday afternoons at www.nacm.org).
San Bernardino Officials Requests Chapter 9 Protection
Just three weeks after lawmakers in San Bernardino, CA voted to begin preparing a potential municipal bankruptcy filing, like two other state municipalities did before it, city officials have official requested Chapter 9 protection. It came several weeks ahead of expectations, largely on thinly veiled threats of lawsuits from creditors.
San Bernardino, like many U.S. cities struggling with debt, is be tied to a lot of contracts with current and retired public workers, especially for pension and health care costs, that are zapping its budget. A previous news release noted "systemic" financial problems that would carry throughout 2012 and beyond and that "clearly, reductions to the expenditures side of the budget are not going to product the level of savings that will be needed to balance the budget." The budget shortfall was estimated at $46 million.
California had implemented a state law requiring a 90-day mediation period designed to bring municipalities and their creditors to the negotiating table before struggling cities can file. While it has likely slowed the pace of filings, as intended, votes and discussions to pursue the eventually bankruptcy option have continued throughout the state.
-Brian Shappell, CBA, NACM staff writer


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caliper covers
has anyone ever heard of these, thinking of using them instead of painting my calipers.
found them on ebay for 25 plus s/h
Re: caliper covers
14 feedback? Thailand? It's cheap enough to give it a try, but don't expect much. Never saw these before. Also, these are ABS plastic - what kind of heat can they withstand?
Re: caliper covers
Meh... That's like putting SRT badges on a Laredo IMO.
Re: caliper covers
A friend of mine tried them on his laredo... they dont fit... too small to completely cover your jeeps original front Caliper cover...
Re: caliper covers
just say NO
Re: caliper covers
ok, I was looking for the easy way. I have had the caliper paint for a long time and just didn't want to take the whole thing apart to paint them properly. I saw ben say he just covered every thing and sprayed and it held up. guess I will wait till spring......
Re: caliper covers
Mayor...ive got red brembo covers but not the set that you posted. These are mine http://cgi.ebay.com/ebaymotors/BIG-B...Q5fAccessories
I know some say that its like putting srt8 on an laredo but actually my laredo is an srt clone so i dont feel bad. They work great and have been on my jeep for nearly 20k miles. I used high temp silicone gasket maker to
glue them to the calipers. And as a matter of fact, I had my rear tires changed today and had 5 different people come up to me and ask me how i like my brembos. (that just goes to show how much they stand out from every other upgrade that I've done) I am honest so I never say they are real however 99% of people can not tell that they are not real. I will post some pics tommorow to show. -Jacob
Re: caliper covers
The first time I saw them was on a 2008 BMW 550i with M package. I couldn't believe that someone would put brembos on a bmw so I had to ask the owner why and then he told me that they were only covers. To me its better than painting factory calipers. But its your car so make it so that you like it.:D
Re: caliper covers
Wow--those are kind of expensive to ship.
I actually really like the idea of a caliper cover, though. I've been thinking about painting my calipers but not really sure I want to mess with it. I'd consider a black set of those covers but I'd probably want to mask/paint over the brembo logo. I just want clean looking calipers. How difficult is the installation? Did you have to remove any part of the caliper or brake assembly to attach them or do you literally just glue on top of the existing caliper cover? Any idea if they fit 2005 brakes (I assume they're basically the same across models)?
But...$30 shipping? They're plastic and can't possibly weight much. Oh, I see, they're shipping from Malaysia.
Re: caliper covers
yes please post some pics. I could give 2 shits that it says brembo, I just want my calipers red and don't want to paint/clean/disassemble/reassemble/ too much work. also, give us a time est and how much trimming was involved.
do these have to be removed to change break pads??
Re: caliper covers
You don't have to disassemble anything. Tape and spray. Mine are gold. I have sprayed them once and they held up all year. I'll spray em again in the spring.
Those covers are a pure cheesy ricer mod IMO. Sorry for being harsh!
Re: caliper covers
Nothin' like posin' with fake ass brembo's. You should get the real deal if you want brembo calipers.
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text:
Originally Posted by Jamie Taylor
Cliff Pollard runs classes at hall close on the bank. Not too sure what days and times though. Sure somebody on here will be able to help.
I live on Ormesby Bank(near the pub), I guess i'll just keep a look out if no one turns up on here, cheers man
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text:
The Associated Press
"Bodies are just lying there for three days in the hot sun. There are people who have this on their conscience. When I am in my bed at night, I see my son lying on the ground. ... They have to come home, not only those two. Everybody has to come home." -- Silene Fredriksz-Hoogzand, whose son, Bryce, and his girlfriend Daisy Oehlers died on their way to a vacation in Bali aboard the Malaysian jetliner downed over Ukraine.
"It's a genetic revelation; schizophrenia has been a mystery. Results like this give you things to work on. It takes it out of the zone of guesses about which genes are relevant." --Study co-author Steve McCarroll, director of genetics for the Broad Institute of MIT and Harvard. Scientists have linked more than 100 spots in our DNA to the risk of developing schizophrenia, casting light on the mystery of what makes the disease tick.
"I want to thank city retirees and active employees who voted for casting aside the rhetoric and making an informed positive decision about their future and the future of the city." -- Detroit emergency manager Kevyn Orr. Workers and retirees approved pension cuts in Detroit's bankruptcy by a landslide, a crucial step to emerging from the largest municipal insolvency in U.S. history


text:
SKIPPER Charlie Bond says Amersham & Chiltern's training this week was 'very tense' ahead of their do-or-die relegation decider on Saturday.
But the captain is confident his team will overcome their nerves and win the crunch battle.
The Weedon Lane outfit travel to Bristol to take on Old Redcliffians – the team just above them in the table.
And only a win will do, or they will drop back down after just one season in National League Three South West.
Bond said: "It's not been easy to concentrate at work this week. You could see the tension in the players in training this week. I think we just all want it to be Saturday now.
"We are determined not to be one season wonders. We feel we belong in this league. We are maybe just paying for having made a poor start, because the step up took us by surprise and we weren't quite at the fitness levels you need.
"That has changed now and our new players have blended into the squad better and there is more cohesion than when they beat us [13-8] at the start of the season.
"I really don't think we will go down, though if we did we would be in a much better shape than when we last went up. We have a great structure here.
"We plan to be very thorough in our approach on Saturday. We've had our opponents watched and our plan will be to get the ball out wide and to try and bully them up front from the start."


text:
International Edition
June 29, 2017
About Us
Contact Us
Local market edges up as investors lock in earlier gains
CNA Wednesday, May 14, 2014, 12:08 am TWN
TAIPEI, Taiwan -- Shares in Taiwan closed slightly higher Tuesday as investors pocketed earlier gains, with the index moving closer to the nearest technical resistance level at around 8,900 points, dealers said.
Market sentiment remained cautious about the current earnings reporting season in Taiwan, which prompted investors to largely ignore a record high on Wall Street overnight, the dealers said.
Large-cap Stocks Buoy Market
While the broader market still moved in consolidation mode, select large-cap stocks, in particular Taiwan Semiconductor Manufacturing Co. (TSMC,台積電), attracted buying on healthy fundamentals to lend some support the index at the close, they said.
The weighted index on the Taiwan Stock Exchange ended up 9.33 points, or 0.1 percent, at 8,817.94, after moving between 8,809.06 and 8,886.66 on turnover of NT$87.45 billion (US$2.90 billion).
The market opened up 0.65 percent and rose to the day's high as investors took cues from gains posted on Wall Street overnight, where the Dow Jones Industrial Average and the S&P 500 index hit record highs, the dealers said.
However, the gains were capped as the market encountered technical resistance ahead of 8,900 points, with profit-taking selling seen almost across the board until the end of the session, they said.
"During the current earnings reporting season, investors tended to keep alert so that they appeared reluctant to chase prices and even rushed to take profits," President Securities analyst Vickie Hsieh said.
Market Enters Consolidation Mode
"The 8,900 point mark continued to impose a psychological impact on many investors, keeping the index from jumping over the technical hurdles," Hsieh said.
"With the 8,900 point level a technical barrier, I expect the local market to continue to move in a narrow range. If there is any immediate pullback, the index is likely to see support at around 8,600 points," Hsieh said.
In the non-high-tech sector, food maker Uni-President Enterprises Corp. (統一企業) added 0.40 percent to end at NT$50.80, while Formosa Plastics Corp. (台塑工業) fell 0.13 percent to close at NT$76.90. Fubon Financial Holding Co. (富邦金控) ended 1.0 percent lower at NT$39.45.
Acer Inc. (宏碁股份), a Taiwan-based PC manufacturer, shed 0.52 percent to end at NT$19.10 after the company reported that its consolidated sales for April fell 37.47 percent from March to NT$19.25 billion, a new low in more than two years.
TSMC Rises 1.69% to NT$120.5
However, TSMC, the most heavily weighted stock in the local market, rose 1.69 percent to close at NT$120.50, while Hon Hai Precision Industry Co. (鴻海精密), the world's largest contract electronics maker, gained 0.23 percent to end at NT$87.90.
"Without the strength of TSMC, the index would have fallen below the previous close. Investors have high hopes that the chip maker will continue to report record highs in sales and earnings in the second quarter," Hsieh said.
HannStar Display Corp. (瀚宇彩晶) rose 1.81 percent to close at NT$11.25 after the small- and medium-sized flat panel supplier reported the highest earnings per share among its peers on strong demand for smartphones worldwide.
Quanta Computer Inc. (廣達電腦), the world's largest contract notebook computer maker, fell 0.50 percent to close at NT$79.80, underperforming the broader market, ahead of an investor conference scheduled for after the market close to release the first-quarter results.
One dead, several injured in northern Taiwan amid torrential rain
Food Taipei: A springboard for El Salvadoran products
80% of the electric scooter market in 2 years: How did Gogoro do it?
"Beyond Beauty" director reportedly killed after aircraft crashes in Hualien
10 reasons working at a Taiwanese convenience store is anything but convenient
Taiwan president condemns Beijing for Panama defection
Panama severs diplomatic ties with Taiwan
Taipei ups precautionary measures to counter flood threat
This blog is a lifesaver for Taipei parents with a toddler
In documenting Taiwan, filmmaker makes ultimate sacrifice


text:
fed up
I HAVE A 403 IN A CUTLASS SUPREME I CAN'T GET A GOOD SPARK I PUT NEW WIRES N PLUGS N DIST.STILL A NO GO MY SPARK IS YELLOW AND ONE MORE THING I PUT A NEW ROCHESTER CARB IN IT THE ONLY THING IT DOES IS FLOOD IT SELF.I CAN'T FIGURE THIS OUT AT ALL. ANY HELP WOULD BE APPERICATED. FED UP IN NOVA SCOTIA... <img src="confused.gif" border="0">
caper,howdy!sounds like the float on your carb needs to be reset for one thing! the fire problem can probably be solved by switching to an aftermarket ignition system[i hear the crane hi -6 system is good,planning on investing in one myself!]hang in there,you will win out with persistence,jimm
Check for 12volts at the dist.,also check your grounds. I would also switch cap, rotor, and coil if you haven't done so already. Once you get proper spark your carb problem may take care of itself. Unless its running gas all over the engine
The floats sometimes stick on a new carb, this shouls corect itself after a while everything gets wet with gas and loosens up, might have just been a little corrosion where the float pivots, it will probably clear up. As for your spark it sounds like you have a weak coil. Try that and when you get a good blue spark going, I think you will be alright, if not lower your float a little.
Most of the time when a carb floods its either caused by a leaking needle and seat valve, a bad float, or trash in the carburator. You will have to disassemble the carb to find out what it is. I would get a rebuild kit and clean and rebuild the entire carb if it were mine. The float does not come with the kit. If its the hollow metel type you can simply shake it to see if gas is on the inside. If so replace it. If its the neopren type, sometimes they will obsorb gas over time and get heavy and the only way to repair that is to replace it. Be sure to adjust the float level per factory specs.
As for the week spark you want to check your usual simple stuff first like the points, condensor, dwell, conections, moisture, coil, cap, plugs, and wires. I usually try to substitute known good parts in there place, or check it with a volt ohm meter. If that fails a partially bad ignition switch will cause a week spark. You can bypass the ignition switch with a wire, if the current gets stronger, replace the ignition switch. Hope this helps.
gentelmen thanx for the advise on the 403 i'll try anything i'll let you know the out come.caper :p
Soumds like a weak coil, but ck voltage to coil,ck your grounds also.As for the carb float may be stuck if overflowing allover engine,or neele not seating, float was set wrong ,if you have elect. fuel pump,or hp adj pump may want to ck for excessive fuel pressure. Just a few ideas in which some of the other posts had mentioed their all good starting point to try. Good luck
thanx for the info novajeff i put new[plug's wires dist cap button].had lot's of volts now there is nothing i fixed the carb problem.it seems you replace one thing and another goes.don't mind spending the money to fix it but nothing seems to work.do you think it could be internal?
caper, Can you provide some more info? Are you using a on board computor for any spark or engine controlled devises? It is very possible it is internal,but how are you cking the spark , are plug wires correct for application 7-8mm wires,excessive lenghth of wires? Are plugs of correct resistence? I'm guessing you are using a HEI dist, if not tell me what make,or dist.so I can get a better idea of what could be wrong. If HEI could be metel ground not in new cap,pick up coil weak defective, ign modual bad.Let me know what all you got for your ign system.new/used if this engine had run before installation of dist wire changes,button,cap rotor ect.and if these items were bought for the completion of your 403.
hey novajeff thanx for the come back i'm useing a hei dist' and axcell 8mm wires blue streak dist cap and button everything i'm using is for the 403 .i'll use a onboard comp' on it today if that doesn't work i'll pull the engine out . i had it running before i put it in the car it was fine then . maybe it's no good i havr lot's of comp; b-tween 165 n 180 per cilinder. if it doesn't work soon i have a 455olds i'll use that. (
Caper, Make sure you have good battery if your engine was running ok before you put it in I would ck the voltage to dist 12v, or voltage drop needs at lest 9.0 volts for ign. ck for ground, If you had spark before you put new cap,wires etc on I would take these parts off and viually ck them for defects reck your work, I'm sure it's easier than putting another motor in it.Ck Just because a part is new doen't mean it's good.Ck the rotor, new carbon button under coil insulator seal by not allowing the spring to contact bottom of coil,ck coil elec. wires are in proper location of external plug/connector wiring.
Also yes your comp ratio will effect the spark and coil out put may not be enough. may need high out put coil.Also plug resistence, gap & heat range also matter so your not drowding out your flames.Some times ya try to hard and get frustated, but hang in their. I,m sure it,is'nt major!!Hope some of these ideas help.
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text:
Sylvia Cake
... Feb 2012
This cake is amassing! Was the head made out of cake too? I love the details and everything!
view all »
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text:
12/11/13 10:55 a.m.
Congress has approved funding to keep the Lima Tank Plant in operation for at least another year. The Lima News reports members of congress have inserted funding for the Abrams tank program into the fiscal year 2014 National Defense Authorization Act. President Obama's 2014 plans included no funding for Abrams tanks built solely at Joint Systems Manufacturing Center in Lima. U.S. Representative Mike Turner, who chairs the Armed Services Subcommittee on Tactical Air and Land, said not funding the program would have jeopardized its future and hundreds of jobs at JSMC.
Congress Approves Funding For Lima-Built Tanks
Dec 11, 2013 Posted Local News
12/11/13 10:55 a.m.


text:
November 3, 2012
2 Mickey's Christmas Carol
2 comments:
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- March 22, 2013 at 5:23 AM


text:
Rock n' roll major gives grads a boost
UM Productions alumni find themselves coveted by industry execs
Surrounded by concert posters spanning 30 years of Missoula entertainment and phones that never stop ringing, Jeff Kicklighter has come home.
The new staff advisor to University of Montana Productions, Kicklighter has returned to where he began his rock-n-roll career in 1992 as a security grunt working his way toward a degree in anthropology.
Kicklighter is an example of the success of what amounts to an unofficial university major of rock n' roll promotion. He rose from the security detail to "punk-rock music coordinator" in 1993. After graduating in 1994, he hit the road for two years, promoting country music acts out of Nashville before returning to the Big Sky.
Now he leads a small crew of heroically underpaid student coordinators who arrange every detail of the university's major arts productions -- from ZZ Top to Joshua Redman to the Chinese Folk Dance Ensemble.
He is proof of what people in the music industry have known for years: UM Productions is also a fecund training ground for the next generation of promoters, managers and industry executives.
While students iron out the catering, security, ticketing, advertising, and every other detail associated with arts production, they are learning skills probably more marketable than those they pick up in class.
"There are not very many places anywhere in the country where you're going to give some kid who's 22 years old control of a $200,000 production," says Truxton Rolfe, UM Productions' student director and a senior in broadcast journalism. "And it happens here in Missoula and they trust the students to do it. And the reason they trust us to do it is because we've been doing it for 30 years, and we do a damn good job."
Concert coordinator Ellie Danch handles shows from start to finish, from booking the band months in advance to overseeing the backstage catering to making sure somebody sweeps up the field house. She works at least 30 hours a week and gets paid poorly for 15. On the day of a concert, she can expect to work from 8 a.m. till 2 a.m. with barely enough time to grab a snack or even enjoy the concert.
For big-time field house shows, for example, Danch's duties include hiring about 150 security guards, stage hands and technical crew. She must coordinate with local law enforcement, the UM Physical Plant, and UM Dining Services, worrying about details down to whether or not the artists' backstage snacks include appropriate condiments.
"No one understands what goes into it," says Kicklighter. "And we're doing it with a student staff and student funds. And that's why so many people in the music industry start out in Missoula, Montana."
Tom Webster, the new director of the University Theatre, held Kicklighter's job until this year and also parlayed his UM Productions experience into a career in the music industry. By the time Webster left his student career at UM behind in 1989, he had received three unsolicited job offers to do promotions work in the music industry.
"It's really a well thought-of program in the industry," Webster says, noting that such industry giants as celebrated tour accountant Mike McGinley (a.k.a "the goon") and three vice presidents at the William Morris Agency, one of the world's largest talent agencies, all got their start in Missoula at UM Productions. "It's a great training ground for students in that they get hands-on experience."
Jeff Kicklighter, a 1992 alumni, returns this fall to head up UM Productions, the program that gave him a head start in the music industry. Students Truxton Rolfe and Ellie Danch say the hands-on experience is invaluable. Photo by Jeff Powers.


text:
How much would you pay to know the Embedded Carbon Footprint of a Product?
Many customers are now widening their focus on carbon emissions from their own operations, to those of the companies they partner with. It is quite common for Cisco to be asked about its environmental policy and initiatives, or for specific metrics to illustrate progress of our sustainability programmes. Communicating these matters between neighbours in the supply chain is recognised as an acceptable and constructive conversation. However, a few customers are taking a giant leap, not just asking for information on our own performance, but of those beyond us in the total supply chain. The most extreme form of this is a request for information on the "embedded carbon footprint" of individual products or a specific bill of materials in a proposed transaction.It is remarkably easy to ask this question, simply by inserting it into a Request for Proposal document. However, coming up with an answer, of sufficient quality to be used in the assessment of suppliers' responses, is decidedly tricky. The sheer size of Cisco's product portfolio, combined with the complexity of our outsourced supply chain operations, means that a massive computational service would be required. This begs the question: how much would you pay if you did not expect the answer to be supplied "free of charge" in an RFP response from Cisco?Supply chain sustainability is a complex enough subject in its own right. There are plenty of reference documents to describe approaches to "Life Cycle Analysis" (LCA), the detailed process of all the steps taken between obtaining the raw materials, through to delivery, use and end-of-life processing of a supplied product. A good example is PAS 2050 "Specification for assessment of the life cycle greenhouse gas emissions of goods and services", published by BSi British Standards.Reading through the associated guidelines however, reveals the sheer complexity of this exercise. It takes seven pages of calculations to illustrate how to arrive at the life cycle emissions associated with one product – a croissant. Just imagine how complex that becomes to encompass thousands of Cisco products, many available in module-based customer-specific configurations. For true accuracy, especially to reflect ongoing improvements in processes, we would need real-time data feeds from a myriad of different suppliers. Sure, it is possible, but so is travelling to the moon -it is just not very practical today.It is easy to see therefore, why Cisco is not alone in being unable to specify the embedded carbon footprint of a given product – only a very few companies have attempted this on a small number of product lines today. Even if we could, another question arises: does knowing the embedded footprint of the product actually help your own sustainability aims?For instance, you could not use the emissions number to compare one supplier with another, as there is no common standard for us to follow. You could not "trade" allowances against that carbon footprint without third party certification of the supplied CO2 number -involving more cost and complexity. Nor could you actively influence our deepest supply chain partners, because you have no commercial relationship with them.You could learn, for example, how significant the emissions from manufacturing appear, compared against the in-use emissions from your use of the product over its lifetime. The Society of Motor Manufacturers and Traders publishes an assessment of the life-cycle emissions of a car, showing manufacturing at 10%, in-use at 85% and end-of-life recovery at 5%. However, this model does not distinguish between an Audi and a BMW, nor between different models from a single manufacturer, so it does not help you differentiate in a purchasing decision. It only tells you what you already know: that you are responsible for the in-use emissions and that is where you should focus your attention. So if the information supplied is not much gain to you, why ask for it in the first place?So long as carbon accounting is not governed by clearly understood standards and tools, industry-wide, that seemingly simple RFP question can only be answered by a bespoke response. That means that we cannot automate it cost effectively. We could respond by offering you a consultancy service to calculate the embedded emissions that you have asked for. But if you knew up front that we might charge you for that, maybe tens or hundreds of thousands of dollars, would you still want to ask the question in that RFP?
In an effort to keep conversations fresh, Cisco Blogs closes comments after 60 days. Please visit the Cisco Blogs hub page for the latest content.


text: I have always wanted Rhinoplasty. I really hate my nose. There is a bump on my nose bridge and then there is a bump on the tip of my nose on the top and on the side. There is also an indent on the tip of my nose that I like to call a butt nose. I don't like the way my nostrils flare either. When I look at my nose it just looks like a fat triangle from the front. I am worried that if I got a nose job my nose would look like a tube because they would probably pinch the tip to correct the problem. I am always worried that it would look fake, I really want a nose job though! What do you guys think? I wish I could see what it would look like with photoshop or something.


text: Flat is an ode to sophistication… Often enhanced with laces, the flat shoe is definitely amongst the favorite model of women. In itself, it is the promise of elegance and comfort that every fashionista dreams of. Constantly reinterpreted by NAVYBOOT, our models showcase all the inspiration that is needed to endlessly renew your own style.


text:
Earlier today, the Vikings announced that former safety Orlando Thomas died, after a five-year battle with Lou Gehrig's Disease.
Former teammate Jake Reed tweeted that it wasn't true.
Now, Thomas' agent confirms that, indeed, Thomas has not died.
disease or illness the way he has fought this. He's continuing to fight
the fight and is cheering on the Vikings every day.
page down in Crowley, La., and I guess the local media ran with it or
something. You know how in today's world once
rumors start, it spreads like wildfire. You know how people communicate
nowadays. But it's totally false. He's sick, but he's good and and he's
fighting the battle he fights every day."
And as the only team for which Thomas ever played prepares to play the Packers, here's an interesting fact. As a rookie in 1995, Thomas intercepted Brett Favre in a 27-24 Vikings win that saw Favre leave the game with a sprained ankle. He was replaced first by Ty Detmer. When Detmer tore ligaments in his thumb, T.J. Rubley got the nod at quarterback.
UPDATE: The Vikings have acknowledged the erroneous report, and they have issued an apology.


text:
Remarks by Congressman Earl Pomeroy
February 28, 2002
Several years ago, I joined then Congressman Harris Fawell as an original cosponsor of legislation which called for three White House Summits on the vital, if then unsung, issue of retirement savings. We directed the convening of three such Summits over ten years because we knew the issue was only going to grow in importance for America's families, and that it would evolve in unpredictable ways which warranted treatment as a dynamic ongoing national priority.
It was our hope that the national spotlight a White House Conference would generate, coupled with the energy that would be created by assembling national leaders in the retirement security area, would create momentum and generate ideas for this national imperative. I believe this second Savers Summit will meet the highest hopes former Congressman Fawell and I had as we worked on this legislation.
I commend the Administration, particularly Assistant Secretary of Labor Ann Combs, for preparing and conducting such an outstanding Summit. I also commend each of you for the considerable efforts you have made to participate and make this event a success. You brought to this Summit your considerable expertise. Your ongoing leadership in the retirement savings arena will mean a great deal to advancing retirement savings and building financial security for Americans.
In the next few minutes, I would like to briefly outline my view of the components of a national retirement income security strategy, and identify public policy issues presented by each which will require our collective attention now and in the years to come.
Blueprint For Financial Security In Retirement - The United States retirement income system consists of several independent components enacted at different times over many years. Either by design, or more likely, by fortunate accident, the various parts of our system complement one another and work as an integrated approach. The foundation is the public pension program - Social Security - augmented by workplace pension plans and defined contribution plans, and individual retirement savings.
This combination of public and private approaches to retirement income security has proven successful because, as a system, it has provided the following: universal coverage, basic income guarantees in retirement even for low wage earners, strong incentive for personal responsibility of wage earners to acquire private retirement savings, and a significant role for employers in providing retirement programs as an employment benefit.
Social Security - Social Security is the foundation of retirement income for America's families. Social Security covers 96% of the workforce, and provides covered retirees a defined benefit payment each month for as long as they live.
For most recipients, their Social Security check is a vital part of their income in retirement. In fact, 64% rely on those payments for most of their income and, for 29%, those checks represent 90% or more of their monthly income. Without this program half of those 62 and older would have income under the poverty level.
I have real questions about proposals to reduce the guarantees in Social Security through structural reforms providing for private accounts. Americans already have loads of risk when it comes to retirement income. Risk of not having workplace retirement savings; risk of not saving enough; risk of investing in ways that fail to generate the expected return; risk of spending assets intended for retirement on some other purpose — emergency or otherwise; and increasingly risk of outliving retirement savings. Social Security offsets these risks very effectively, at least in terms of bottom line income in retirement years. Changes which, in the end, add further risks to Social Security, do not represent a strategically sound move for this foundation of retirement for Americans.
One place privatizers and system protectors can find common ground involves an aspect of fiscal prudence core to the future solvency of Social Security regardless of how the program is structured. Spending the cash coming in from Social Security payroll taxes on unrelated functions of government will make it harder to meet the commitments of this program to future retirees. Budget projections show we are on track to spend $1.5 trillion coming in for Social Security on other government expenses over the next ten years. This is unacceptable. We all need to pull together with urgency — to end deficits in the general fund of the federal government so Social Security revenue can be held strictly for the benefit of Social Security.
Workplace Defined Pension Plans - Defined benefit pension plans, like Social Security, deliver predictable income throughout the covered retirees retirement years.
I believe this format continues to offer a great deal in advancing retirement income security and am not prepared to accept the notion that defined benefit pensions are an idea whose time has come and gone. The place to start is by trying to keep the plans we have. The federal government should help rather than hinder employers trying to keep their pension coverage for their workers.
We began by making overdue benefit updates in Portman-Cardin, and now we have to fix an inappropriate reserving requirement which, if not addressed, will make the cost of pension coverage unnecessarily expensive.
I believe there is more we can do to increase the appeal of defined benefit plans to employers who do not presently offer this coverage. I recognize pensions will occupy a relatively small part of the overall picture, but those who are covered find the coverage to be very important. It only makes sense to try and expand the number in the workplace covered with lifetime pension coverage.
Workplace Defined Contribution Plans - Defined contribution plans have become the primary vehicles for workplace retirement savings. The tremendous growth of plans, covered individuals, and assets saved, all reflect what a tremendous success the 401(k) and other DC plans have become. We must be clear-eyed, however, about evaluating whether these vehicles will, in the end, deliver the retirement income security for participants through their lifetimes that we hope for. In making this evaluation, we must look at workers' participation rates, and whether those who do participate are accumulating the balances required for meaningful retirement income.
Participation - Not surprisingly, participation rates by employees with defined contribution retirement savings opportunities varies directly with whether incentives are provided in the form of an employer match.
With a match, more than 70% participate, substantially fewer when no match is provided. The lesson we need to consider here as we deliberate post-Enron reforms is to avoid measures which may reduce or end the match provided by a number of employers to their workers. Such a result would be a setback rather than an advance in retirement savings.
I commend the Administration for advancing a number of well considered reforms in this area and expect they will receive bipartisan support as they move in the legislative process.
Rates of Savings - Questions exist in my mind about whether those who do participate in a 401(k) are saving enough. A recent Congressional Research Service (CRS) report revealed that of the 39% of the workforce who had a DC plan, the average balance was $34,700, with the median balance being $14,000.
Fortunately, account balances are considerably larger on average for older workers rather than younger ones, so the picture may not be as bleak as these numbers would indicate. All the same, however, we are counting on DC plans to deliver a lot of retirement security for Americans. We need to carefully evaluate what the savings balances being achieved will actually deliver in this regard.
Investment Advice - In the breakout group I attended yesterday, there was strong consensus that folks needed more information on retirement savings and the workplace was the most effective place to deliver meaningful information.
Expanding the information actually delivered in the workplace through the investment advisor legislation introduced by Chairman John Boehner makes sense to me. Legitimate concerns have been raised about the prospects of abusive sales activity occurring, and I have developed a few consumer protection amendments to help address these issues. In my view, insufficient information is the greatest concern for those facing bewildering investment choices.
Matching Nest Egg to Longevity - To date, most of the attention to retirement savings involves the phase of activity associated with growing the retirement nest egg.
Matching saved assets to income needs in retirement through appropriate asset draw down will represent another important phase of issues. This is a tricky proposition for a retiree with finite assets, but nothing but unknowns in terms of life expectancy or the potential of long-term care costs. I believe lifetime annuity products will continue to become more popular as individuals look for retirement income security through these vehicles.
Congress should consider developing incentives for people to protect their retirement income through annuities. It would, in all likelihood, be a lot cheaper than providing full public services for aged retirees who have outlived their assets.
Private Retirement Savings - Sixty-one percent of workers do not own a retirement savings account of any kind -- be it an IRA, Keogh account, or 401(k) account. The fact that nearly two-thirds of American workers lack any type of retirement savings account indicates that there is a need for greater awareness among the public about the importance of saving to prepare for life after they have stopped working. This begins with financial literacy education in the schools. Financial literacy and worker investment education and advice must be the ongoing focus by the Administration and Congress alike.
Social Security, tax incentives for workplace pension plans and defined contribution plans, and tax incentives for individual retirement savings are complementing strategies to deliver retirement security. We need to promote each in addressing retirement income security.


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So, last week I skipped my Pagan Experience post. Partly because I was in full production mode over at FiberWytch (still am, in fact), which tends to make me feel overwhelmed; as I still work at an outside job part time, and I have invisible illnesses, multitasking can be a challenge. I also have a tendency to become nonverbal when working full steam ahead on crafting projects. But if I'm going to be honest, a bigger reason I skipped it was that my reaction on reading the prompt was more or less "meh." Because as a godspouse and spirit worker, I'm a spirit-centered pagan, not an earth-centered one. Or so I told myself.
Well then. A day or two later (while I was in the shower, as it happens), Odin set me straight on this notion. "Not earth-centered, is it? What about the Making? What about all of the plant oils and herbs you work with? Those plant spirits have a home, you know, and it isn't out in the ether somewhere."


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One of the wonderful things about kindness is that, unlike some other enjoyable things in life, how much you do it is entirely up to you. If you'd like to have a life filled with love and kindness (and let's be honest, who doesn't think that sounds good?) all you need to do is be more loving and kind.
Ok, I say "all you need to do" but I know that it can often feel so much harder than that. With so many things going on, with our own hopes, thoughts, fears and fantasies vying for our attention, it's quite possible, even probable, that kindness gets left out. So I think it's helpful to remember that kindness is an innate quality of the mind, something that we all have the capacity for. In fact, I'd even go so far as to say that the mind, unobscured by self-centered thinking, is kindness.
I'd even go so far as to say that the mind, unobscured by self-centered thinking, is kindness.
So it's less about going after it and more about creating the space for kindness to arise. Here are a few ideas that could help you let a little more of that good stuff into your life.
- Create the conditions. One of the best ways to do this is through meditation. Maybe you knew I was going to say that. And you might think, "How is this being kind to others? I'm the one getting the benefits here." But the truth is that it's much harder to be kind to those around you until you're approaching your own mind with compassion. It's only by developing a window to the mind that you're able to see its behavior without judgement. That gives us a better understanding of our own minds, and, by extension, other people's. So if you haven't done already, I recommend downloading Headspace and starting Take10.
- Listen carefully. Very often, it's the simple fact that someone has understood a need that makes an act of kindness feel so special. The glass of water when you're thirsty, the help with those heavy bags when you're going up the stairs, holding the doors when your hands are full. It's where the action meets the need that the magic really happens. Being open and aware means you're that much more capable of seeing those opportunities for kindness occurring all around you every day.
- Think small. Sometimes the small things can mean the most. Kindness doesn't have to entail a radical overhaul of your life or suddenly changing the way you behave around others. You needn't dedicate your life to a cause in order to make a difference. That compliment to a coworker, making time for your partner, or an extra effort for a stranger, can change someone's whole day. Apply kindness skillfully – it's almost an art in itself.
- Make the choice. Kindness is often as much about what we don't do as what we do do. With a bit of awareness we can start to catch ourselves at those moments when we might otherwise miss the chance to be kind. Is there a second that you choose to be on the phone rather than fully present with your partner? Is there a split-second decision not to approach someone who looks lonely in a crowded room? Try intercepting these impulses, just as an experiment, and soon you may not have to try so hard.
- Don't give up. Even if we resolve to be kinder, there's a chance that we'll still have bad days. Maybe we'll find ourselves angry, resentful, critical or harsh. And perhaps there's a temptation to believe the worst, that this is our true nature, and that being kind was merely a put-on. I think that there is perhaps a natural tendency to buy into these types of thought. But this is just more thinking. When we look at our behavior over the course of even a short period of time, we can see we're capable of so many different ways of being. The mind is limitless, capable of anything. So don't let yourself be defined by a single disappointed expectation. Remind yourself of that blue sky animation, that idea of inherent kindness…and then share it with those around you, even those who you may not know or like. Genuine kindness is unconditional.


text: The sounds of summer are finally here, but don't be surprised if the temperature rises just a bit July 21 thanks to Tacoma City Ballet's Sultry Summer Night Soiree. This benefit, taking place at the Merlino Art Center at 7 p.m., will bring together some of the community's most standout artists, musicians and performers, all to benefit the ballet company's popular scholarship program. For $10, guests will enjoy an evening featuring the works of local visual artists, authors, musicians, dancers and filmmakers. A no-host bar will be available for attendees, who will also have an opportunity to mingle with the artists throughout the night. "We wanted this to be a very interactive night celebrating art," said Melissa Lovejoy Goldman, director of community relations, development and marketing. Tacoma City Ballet's entire studio space will be transformed into a unique version of a sultan's tent, creating a fun getaway for guests to learn more about the artists. "We have a long history of collaborating with different types of artists," she said, adding that the company's set designers are often visual artists from the community. The company's scholarship program benefits at least one-third of its students. "There are never enough funds to cover the full cost of tuition, so any part of the cost we can defray is beneficial to our students," Lovejoy Goldman said. At least two former scholarship students have gone on to dance professionally in Seattle and Bellevue. This fundraiser is the primary source of funding for the scholarship program, but administrators are always accepting donations. Artists participating in the fundraiser will also be selling their art throughout the night, with a percentage of the sales benefiting the scholarship program. Artists slated to appear include Stephanie Ayhens, Letha Colleen Myers, Maria Jost, Alisha Cushing, Jocelyn Bowman, Josephine E. Rice, Celeste C. Robinette, Isabel Rubio, Steven Lee Wetzel and Mary C. Zins. Choreographed dances, literary readings and film screenings will also be featured throughout the night. "Part of our goal is to assist local artists to show their work to the community, as well as raise money for our scholarships," Lovejoy Goldman said. "We're excited for our audience to have a chance to interact with the local art community." The event takes place July 21 at 7 p.m. in the Merlino Arts Center, located at 508 6th Ave. To purchase tickets, visit http://www.tacomacityballet.com/blog/sultry-summer-night-soiree


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By Commissioner L.T. JENKINS
As I have expressed earlier I am not for a Bible Park in Lebanon, Tennessee simply because I feel the public is being MISLED and my concerns for the high amount of traffic. As a member of the Wilson County Court (Commission), I am sometimes privy to information that the public never sees, although I think they have every right to it, so here is the latest:
1. When the Bible Park was first promoted I was at the meeting and they were bragging on a proposed huge attendance thus bringing money into Lebanon. But there is more to it than money FOR THE BIBLE PARK. They estimated 5,800 additional cars per day would be going into the park. Being the simple country boy I was raised up to be and no great whiz at math, I still did my own calculations. I could not imagine trying to get to Walmart, Gondola, Sunset Restaurant, Shoneys, Pizza Hut, Waffle House or O'Charleys with that many cars in front of me or for that matter caught in the middle of them. I referred to the high traffic of Pigeon Forge where Dollywood is located as a comparison in my mind.
2. At the next meeting, I asked Mayor Fox, how the streets would handle such traffic and his answer was "Oh, we'll put a turn lane on Sparta Pike, there is not much we can do to 231 as it already has five lanes." So to myself I said,"I haven't been fair by assuming all 5800 cars would be on South Cumberland/231 so I split the number by half, thus giving Sparta Pike 2,900 cars and South Cumberland 2,900 cars! You figure how your own traffic problems on this.
3. I asked Mayor Fox if the current sewer system could handle the addition of the Bible Park, for as a county commissioner I already had knowledge that the sewer had already been extended to the race track out Hwy.840 and was proposed to perhaps cover new industries in the Couchville Pike area. The answer that Don gave me was "Our sewer plant is big enough to handle Lebanon once again." This made me wonder then why a sewer plant that could handle two Lebanon's had to smell so bad every time I passed it on Hartmann Drive?
4. Next came the mention that a road would be built parallel to the interstate and running from 231 over to Cainsville Road or maybe even to Sparta Pike. The promoters of the Park, including the mayor himself, kept assuring us there would be no cost to the citizens of Lebanon (I live out side the city for the record) but now, the truth:
5. I have a copy of a letter sent to the Mayor and copies sent to we commissioners from none other than Gerald F. Nicely, the Commissioner of Transportation and I quote:
a. "Turn lanes and traffic signals on state highways. The department generally works WITH local governments TO FUND improvements to state highways where traffic intersecting local roads is causing congestion." (Captalization is mine).
b. "Local Interstate Connector (LIC) funding . Under this program, qualifying projects can be FUNDED AT A 50/50 COST SHARE WITH THE LOCAL AGENCY(That's you the taxpayer) subject to a $2 million maximum TDOT contribution."
c. State Industrial Access (SIA) program funding. Under this program, qualifying projects can be funded where INDUSTRIAL EXPANSION is occurring. The MAXIMUM CONTRIBUTION under this program is for two 12' lanes and 4' shoulders or a dollar equivalent.(I don't believe the park would be "industrial"otherwise what is it producing?)
d. "Once the decision is made regarding the proposed park, a formal request from the City will need to be submitted to the Department."
So there you have it. Admission is estimated to run $35-45 per head and you can also HIRE a guide inside. The American Civil Liberties Union (ACLU) is already watching to make sure no government money is used to fund religion. (Our government requires a separation of church and state) and since according to the Mayor, this will not be a religious park, but more based on biblical history, I am wondering just how many Shintus, Buddhists, Siks, or other non Christians will be attending solely to learn history of course? Now should you not be able to afford taking a family of four or five to the proposed Bible Park, you can still learn the unadulterated version of biblical history by reading your Bible to your kids. My mom used to do it and it works!
Editor's Note: L.T. Jenkins represents District 19 on the Wilson County Commission. He resides in Lebanon.


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Alexander Semin had two goals and Marcus Johansson scored for the first time in 20 games as the Washington Capitals cruised to a 4-1 victory over the visiting New York Rangers on Wednesday.
Tomas Vokoun made 31 saves to snap the Rangers' five-game winning streak. The Capitals improved to 12-5-1 at home and moved to 6-6-1 under new head coach Dale Hunter.
Semin's second goal of the game came with less than three minutes to play to secure the victory. Alex Ovechkin picked up his second assist of the night, snapping a 23 game multi-point drought.
Troy Brouwer and Semin scored less than three minutes apart in the second period to give the Capitals a 3-1 lead. Brouwer's 10th goal of the season came at 10:24 when he deflected defenseman John Carlson's point shot past a helpless Martin Biron. Semin's first of the night came when he backhanded the puck over Biron on a breakaway.
After Johansson's seventh goal of the season put the Capitals up 1-0, Brandon Dubinsky tied the game with less than three minutes left in the first period.
The goal was set up when captain Ryan Callahan blocked a shot to send the Rangers on a 2-on-1 advantage. Dubinsky finished off the odd-man rush by snapping his third goal of the season over Vokoun's glove.


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text: Nanbawan - Unregistered May 24, 2013 4:26 PM But will they convert it into a race win ? So many things can happen and it should be possible to counter the Merc train. There can be a safety car occurrence that reshuffles the cards, some drivers may opt to pit at the end of the first lap other may succeed in undercutting the Mercedes at the pit stops. Maybe some teams will do a one stop if the silver arrows can't and others starting beyond the first rows will begin with the other compound. In the end, if the Brawn boys really suffer on the tyre front compared to their opponents they simply may be vulnerable for overtaking even in Monaco. 1 agree 0 disagree


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Cadillac Seville / Cadillac Eldorado Forum Discussion, 96 sls in Past Cadillac Vehicle Discussion; As a long time member, and many questions answered by this group, I felt an obligation to pass on what ...
- 01-08-10 07:10 PM #1Cadillac Owners Member
- Automobile(s): Cadillac 96 SLS
- Join Date
- Jun 2007
- Location
- Bullhead City, AZ
- Posts
- 54
96 sls
As a long time member, and many questions answered by this group, I felt an obligation to pass on what I have recently experienced.
Four or five years ago I installed Goodyear Viva tires, from Walmart, and had I felt exceptional service. It was time for a new set, so I purchased again the Goodyear, but with model name Viva "Authority". This was advertise by Goodyear that you would gain X amount of fuel savings over the life of the tire.
I have always been satisfied with the MPG which was on the road or highway driving from 24 up to 28.
We had an occasion to take two round trips from Bullhead City to Qaurtzite, AZ. The first trip of 232 miles the display showed 34.7 MPG Ave.
The second, I filled the tank "top off" to double check. Again the display showed 35.1 and used 6.64 gallons.
The only change in the car was the tires.
From the start I felt that there was less effort to maintain speed, but it could have been imagination.
Anyway, I hope I have not bored you with this.
- 01-08-10 08:24 PM #2Cadillac Owners Member
- Automobile(s): 99 SLS
- Join Date
- Aug 2009
- Age
- 31
- Posts
- 35
Re: 96 sls
were you driving downhill the whole way?
Re: 96 sls
I don't know what elevation you are at but I have observed aprox. 2 mpg gain driving across I-40 AZ & NM due to higher(4000-5000ft) elevations. I must admit it sounds farfetched to go 35 mi. on a gal. in a +4000lb 4 door 275hp caddy. To atribute this to a tire makes me want to find factual unbiased data about this GY "Viva" tire. Thats like a 6 or 7mpg gain. To gain 1 mpg gauranteed would be huge. Those trips accross I-40 in the 96 Eldo yielded me 29+mpg non stop fill ups. Normal being 26-28 mpg Fill up to fill up.
Re: 96 sls
Hey, I agree with you, I would have not believed it either.
It is a very flat run thru desert, a few small hills, and either trip, there was no wind.
Going to Las Vegas, next week, and double check again. As I said before there was a couple of times thru the years that I showed 28mpg.
The second trip I filled and filled to back it up and thats what it figured.
Don;t make sense to me either, but will try it again in a different direction.
Bare with me.


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Founded: 1930
WARNER BROS. ANIMATION (WBA) is one of the leading producers of animation in the entertainment industry, producing and developing projects for multiple platforms, both domestically and internationally.
For television, WBA is currently producing series such as Be Cool Scooby-Doo!, Bunnicula, Justice League Action, Teen Titans Go!, The Tom and Jerry Show and Wabbit–A Looney Tunes Production for Cartoon Network, as well as Mike Tyson Mysteries for Adult Swim. WBA is also producing the forthcoming Green Eggs and Ham for Netflix.
As the home of the iconic animated characters from the DC Comics, Hanna-Barbera, MGM and Looney Tunes libraries, WBA also produces highly successful animated films—including the DC Universe Animated Original Movies—for DVD.
One of the most-honored animation studios in history, WBA has won six Academy Awards®, 35 Emmy® Awards, the George Foster Peabody Award, an Environmental Media Award, a Parents' Choice Award, the HUMANITAS Prize, two Prism Awards and 20 Annie Awards (honoring excellence in animation).
WBA's classic/contemporary collection brings together beloved characters such as Bugs Bunny, Daffy Duck, Porky Pig, Elmer Fudd, Road Runner, Sylvester & Tweety, Wile E. Coyote, Yosemite Sam, Taz, Marvin the Martian, Batman, Superman, the Animaniacs, Pinky & The Brain, Tom and Jerry, Popeye, Droopy, The Flintstones, The Jetsons, Yogi Bear, Quick Draw McGraw, Huckleberry Hound, Jonny Quest, Scooby-Doo and more, all residing under one roof.
Since the release of its first theatrical short, Sinking in the Bathtub, in 1930, Warner Bros. Animation and its family of now-classic characters have evolved into a cherished part of our culture, emerging as true entertainment legends enjoyed by children and adults alike around the world. Setting the standard for irreverent, satirical humor and inventive quality animation, the Studio has created a veritable galaxy of stars from its universe of characters.