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Athena Leadership Labs for Barnard Students
Athena Leadership Lab: Synergy: Leadership & Social Media Brand (TECH)
Athena Center for Leadership Studies
Tuesday, February 26, 2013 from 6:30 PM to 8:30 PM (EST)
How does leadership look different in this age of technology? How can we leverage technology more effectively to advance our leadership goals? In this workshop you will learn how to practically apply social media skills as it relates to leadership; exploring how to optimize technology for personal and professional results. Topics include:
5 Weeks of Workshops:
Jan 31st – Feb 28th
What's New?
Spring 2013 Student Leadership Labs include a diverse array of new trainers, highly-ranked workshops and an expanded focus on the Athena CORE10, a unique set of competencies specifically developed for women leaders. You can browse all the workshops by track, in the course catalog here!
Important note: Every BC Student Can Take Up To 4 Workshops.
The Athena Center for Leadership Studies was established in fall 2009 and is dedicated to the advancement of inspired and courageous women leaders around the world.
Join millions of people on Eventbrite.
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|As well as a class includes a default constructor and a copy constructor even if they are not declared, it also includes a default definition for the assignment operator (=) with the class itself as parameter. The behavior which is defined by default is to copy the whole content of the data members of the object passed as argument (the one at the right side of the sign) to the one at the left side.
|RyanM wrote:
|"Can you please break it down and provide a few more details. How is "Point r(q)" equivalent to "r = q"?"
|only if you do something stupid
|Can you explain what a temporary is? Sorry.
Point( 0, 0 );
Point(Point &o);
Point p1( Point( 0, 0 ) );
Point( const Point &o);
|Also what is a regular reference?
int const &X = 10;
The reference has to be constant, because you're assigning a literal to it.
A temporary object can be bound to const reference.
Point( const Point &o);
true, '1', L'1', u8'1', u'1', U'1', "1", L"1", u8"1", u"1", U"1", R("1"), 1, 1u, 1l, 1ul, 1ll, 1ull, 1.0f, 1.0, 1.0L
Point(1, 1), pair<int, int>(1, 1), vector<int>(2)
true to
Point( const Point &o);
|The copy constructor by default doesn't copy the values from the temporary object to p1, but points to the temporary object instead
|This is a problem because like I said the temporary object will be destroyed
|Am I correct so far?
|Well how does adding const suddenly solve all that? The object is still temporary.
|Also, the following code will work, correct?
type name(objectOfType_type); means:
|Viliml wrote:
|copy-constructors should take a reference toa constant, to avoid changing the object from which the data is copied. This also allows constructon form temporaries, which isn't possible with regular references.
|Viliml also wrote:
|can't be a regular reference because of an obvious reason: youcan't modify it! Temporarys are mostly, or maybe even only, literals and constructor results. They musn't be modified, because that would lead to unexpected results. Taking a CONSTANT reference allows correct code, and no undefined results. Another reson for taking a constant reference is not to accidentally modify the object you are copying, as it would mostly be unexpected.
|Viliml also wrote:
|because, when you change the reference, you change the object it's reffering to. If the object it's reffering to is a constant, it musn't be changed, so common sense tells us you can't have a writable reference to a const object.
|Viliml ALSO wrote:
|adding const means that you can't change it, which means that the temporary, possibly a literal, still contains the same value! Also this guarranties that it is nothing but a COPY! That means you can't accidentally chang the object you are copying from, because then when you would use it's value later, you would wonder and wornder how the heck did it's value change, if you did NOTHIGN to change it in the main(). It would be really hard to debug it when it's inside the copy-constructor. Adding const assures you it won't happen.
this pointer doen't point to it either.! The only relation to the temporary is the data!

subset: commoncrawl


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Team:Paris/Transduction overview2 strategy
From 2009.igem.org
iGEM > Paris > Receiving the message > Our strategy
Our strategy: The Fec operon
Few ABC transporter such as FecABCD (iron transporter) are able to induce a response regardless of the tranlocation, due to the activity of FecA, moreover some mutant can also have a constitutive expression of FecABCD .
The plan would be to use FecA- mutant receiver and FecA+ mutant donor to transfert the constitutive FecA protein to the receiver. In this case the receiver will express the FecABCD operon without being induce by ferric citrate in the medium , and so we could place under the control of the Fec ABCD promoter, which is called pfec, the gene sequence encoding for the response. For the moment a response that would be easy to detect is the fluorescence of the RFP and the biobrick BBa-J61002 is the perfect candidate to test the system.
We also discovered that some fecR and fecI mutants can be use to amplify the signal because they have a constitutive activity. So we put under the control of pfec a FecR and FecI mutated. When they will be expressed, they will be activators of pfec and consequently of RFP. Normaly we would be able to obtain a increasing fluorescence.
problems : the message is unidirectionnal and unrepeatable. It would just be a proof of principle that a vesicle-mediated controlled communication is possible.
Our strategy: The trick TCS
We could ,with the help of Alfonso Jaramillo, design a synthetic PBP which could detect the substrate we choosed and activate a specific HK. The previous work done by Valencia in 2006 was to design vanilin-sensitive PBP and a network for a graduated response whereas we just need a proteic sensitive PBP and a binary type of response.
Even if the idea of creating a synthethic protein was very attractive, it would have been difficult to have concrete result in just 3 months.


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Best Of :: People & Places
The former hard-throwing Kansas City Royals righthander pitched only one, inglorious 1997 season for the Angels, but he represents our greatest hope for a better team. No, not the Halos' baseball team, but rather the Halos' broadcasting team. Last season, "Gubi" was teamed with Jose Mota (the Weekly's Best Sportscaster in '07) for 50 televised games on Fox Sports West and Channel 13. Sadly, the bulk of the calls still went to the annoying tandem of Steve Physioc and Rex Hudler, whose gravely voice and inane insights bring to mind a Huntington Beach bro explaining nanophysics. For some TV games this season, Gubicza is being paired with Rory Markas, Anaheim's longtime radio play-by-play man and another past Weekly Best Sportscaster. Physioc and "Hud" get the other televised games, however. Cross your batting-gloved fingers that this will be the year the front office finally wakes up and makes Gubi and whomever the only TV tandem next season. Gubicza's stories from his throwing days and insights into the minds of players add depth and meaning to the action on the field. If Anaheim is stinking up the joint, he'll actually say so. This winning, media-savvy market deserves Gubicza in the booth. Even if he was a stupid Royal.
Okay, so it's not that far of a drive from Balboa Island to Balboa Peninsula, but the ferry's fun to take anyway—and it'll save you about five miles per car trip. The ferries have been making the quarter-mile (just less than 1,000 feet!) scenic ride since 1919, traveling at a mind-boggling, lightning-fast speed of 4 mph. Eighty-nine years ago, the ride cost a nickel per person—and people were loaded aboard what was called the Ark, a giant rowboat equipped with a small engine. Three double-ended wooden boats—the Admiral, the Commodore and the Captain (no Commander? What about the Seamen?) replaced the Ark in the '50s and are still in operation. Each ferry holds just three cars and about 75 people. Riders mostly consist of bicyclists, families and couples enjoying the view we all-too-often forget about, which includes the Ferris wheel and merry-go-round of the Balboa Fun Zone, the Balboa Pier and the Balboa Pavilion, which is especially pretty at Christmastime. Also: It's cheap (50 cents to $2), your kids will love it, and you can even bring your dog.
If children are the future and history repeats itself, then homeless children are very likely to repeat their parents' mistakes and end up on the streets themselves. In an attempt to break this sad cycle, School on Wheels, a non-government-funded charity founded in 1993, sends volunteer tutors to homeless shelters, motels, group homes and the streets to mentor students and provide them with school supplies and uniforms. Serving much of Southern California, from Dana Point to Santa Barbara, School on Wheels has several local tutoring sites including the Santa Ana Catholic Worker office and several locations in Long Beach.
We always get this question from out-of-town guests: What's a decent, affordable place to stay near Disneyland? There is only one right answer: Hotel Menage. Several years ago, three young men bought a crappy old hotel on the location, tore everything out and refurbished it in style. The rooms aren't necessarily large, but they come with eye-soothing mahogany-wood beds, comfy sofas, non-chain-hotel wall art and plasma televisions. Conveniently located next to Interstate 5 and minutes from the world-famous theme park, the hotel also offers a large pool and K'ya Restaurant, featuring Pacific Rim dishes.
Yes, it's the happiest parking structure on Earth. Built in 2000 to hold more than 10,000 vehicles, this monster of a parking lot is not only the most magical place to park your car, but also the most efficient in all of Orange County. In a time when other parking lots, like those at the Irvine Spectrum, take cars on daring adventures around and around, bringing them precariously close to crashing and offering exciting twists and turns to people of all ages, the Mickey & Friends parking structure offers a direct exit from every level, expertly placed traffic cones, friendly attendants trained to wave even the most impossibly sized cars neatly into a spot, and the cartoon faces of America's favorite rodents plastered on its walls. Yes, in a world of craziness and disorder, the Mickey & Friends parking structure, once honored with the title of largest parking lot in North America, offers simplicity and peace of mind for just $12 per visit.
Utterly amiable and vastly knowledgeable, Bubba Jackson handles the crucial weekday 6-to-9-a.m. slot for listener-supported KKJZ-FM 88.1, where he plays excellent jazz and blues cuts from the 20th and 21st centuries. Now, many radio jocks can do the same thing, but no professional on-air personality possesses more genuine enthusiasm for the music he's spinning than Jackson. No, not even Henry Rollins. Bubba's getting up there in years, but the decades haven't muted his zest for the many styles of jazz and blues he plays while Southern California's more discerning denizens are getting ready for work or school and simmering in rush-hour traffic. A glance through one day's playlist for his Breakfast With Bubba show reveals tracks by Louis Armstrong, Thelonious Monk, Bernard Purdie, Ray Barretto, Lalo Schifrin, Herbie Mann, John Scofield with Eddie Harris, and Esperanza Spaulding. But whatever day it is, Bubba delivers the choicest cuts along with folksy commentary and generous praises when he back-announces his sets, like a hip grandpa who never lost his youthful passion for great music. More than most genres, jazz and blues desperately need champions like Bubba Jackson to keep their legacies thriving. His charm, knowledge and impeccable taste both benefit the music he advocates and help to kick-start your day on the brightest note possible.


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before it's in the papers"
"King" of dinos called more hyena than lion
Feb. 22, 2011
The ferocious Tyrannosaurus rex is often depicted as the bloody top dog of the Cretaceous period, ruthlessly stalking herds of duck-billed dinosaurs. This cast of a T. rex is on display in UC Berkeley's Valley Life Sciences Building. The original fossil skeleton from Montana's Hell Creek Formation is in the Museum of the Rockies in Bozeman, Mont.
(Credit: Randy Irmis)
This cast of a T. rex is on display in UC Berkeley's Valley Life Sciences Building. The original fossil skeleton from Montana's Hell Creek Formation is in the Museum of the Rockies in Bozeman, Mont.
(Credit: Randy Irmis)
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The ferocious Tyrannosaurus rex is often depicted as the bloody top dog of the Cretaceous period, ruthlessly stalking herds of duck-billed dinosaurs. But a new census of all dinosaur skeletons unearthed over much of eastern Montana, scientists say, shows that the "tyrant lizard king" was too abundant to have lived only on dinosaurs it tracked and killed with its scythe-like teeth. So rather than the "lion" of its realm, the paleontologists say, T. rex was probably more of an "opportunistic" predator. That is, it was like the hyena in Africa, which both hunts live prey and scavenges dead meat, and either way isn't picky about which animals are its sustenance. "In our census, T. rex came out very high, equivalent in numbers to Edmontosaurus, which many people had thought was its primary prey," said John "Jack" Horner, curator of paleontology at the Museum of the Rockies in Bozeman, Mont., and a professor at Montana State University. "This said that T. rex is not a cheetah, it's not a lion. It's more like a hyena." "This putative 'apex predator' is as abundant in the upper layers of the Hell Creek Formation as the herbivores, its reputed primary food source," added co-researcher Mark B. Goodwin of the University of California, Berkeley. "And it's even more plentiful in the other two-thirds of the formation." Normally, Goodwin said, top predators are one-third or one-fourth as abundant as their prey, because of carnivores' larger energy needs. Opportunistic hunters like the hyena, however, can be twice as abundant as the top predators. "If you count the lions and the leopards and the cheetahs in the Serengeti, the number still does not equal the number of hyenas, because hyenas have a much wider food source," Horner said. "Cheetahs, for example, only go after things that are really fast. They don't eat turtles. But a hyena will eat a turtle, or anything else that it can catch or is dead." Similarly, T. rex was eating anything it could, he said. "There's no evidence that T. rex could run very fast, so it wasn't out there being a cheetah. If it could get a sick animal, it would." Horner suggests that juvenile and young adult T. rex may have been primarily flesh eaters, while the older adults, which developed proportionally larger, bone-crushing teeth as they aged, also consumed the bones and marrow of their prey. The dinosaur census in the Hell Creek Formation of Montana, which dates from 65 to 95 million years ago, was begun in 1999 by Horner and Goodwin with the financial and occasional field support of Nathan Myhrvold, former chief technology officer for Microsoft Corp. and co-founder of Intellectual Ventures of Bellevue, Wash. The results, authored by Horner, Goodwin and Myhrvold, were published Feb. 9 in the open-access research journal PLoS One. Horner and Goodwin, together and separately, have been dinosaur-digging in Eastern Montana for decades. The fossils date from a time when the area bordered an inland sea, which periodically advanced and withdrew over coastal plains, depositing sediment that was later exposed and heavily eroded. When Horner started his census of dinosaurs in the Hell Creek Formation around Fort Peck Lake in 1999, he teamed up with Goodwin to re-examine some of the dinosaurs discovered in the area. Since then, through lab analysis and annual summer digs, they have concluded that one named species, Torosaurus, was just a big, aged Triceratops; two dome-headed dinosaurs, Dracorex and Stygimoloch, were merely younger members of the genus Pachycephalosaurus; and the so-called Nanotyrannus was just a juvenile T. rex. Once these fossils had been properly identified, Homer and Goodwin said, they catalogued the species and relative ages of known dinosaurs in the formation, which is about 100 meters thick at exposed areas covering some 1,000 square kilometers. The census included only skeletal remains, not teeth, because the paleontologists wanted a record of the maturity of each specimen, and teeth tell little about the age of a dinosaur at death, Goodwin said. "Small juveniles and older adults were relatively rare compared to large juveniles and subadults for all the dinosaurs," Goodwin said. This could be explained if juveniles lived in other locations, which is not uncommon in some species. The largest adults may simply have been relatively rare. "This adds to an emerging picture of what the dinosaur fauna looked like during the late Cretaceous," he said. Horner noted the greater variety of dinosaurs in the older sediments, the Lower Hell Creek Formation, compared to the younger "Upper" formation. "Definitely there was a change in population leading up to the Cretaceous-Tertiary boundary," the time when the dinosaurs went extinct due to a presumed asteroid impact, Horner said. "So something was happening to the faunas prior to the impact.. during the 10 million years after dinosaur diversity peaked 75 million years ago, the dinosaurs dwindled pretty fast, and there weren't many left at the end."


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ISL Light - Remote Desktop
by: ISL Online • 61
All Android applications categories
by: ISL Online • 61
ISL Light for Android version 1.1.2 is not going to be updated anymore. To use the new version download ISL Light for Android from Google play or via update dialog inside ISL Light application.
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|Half Baths
|1,900 sq. ft.
|Property type
|Minimum Stay
|5 nights
Mango Kai Island House is situated within the prestigious development of Cayman Kai/Rum Point on Grand Cayman, only a 40 minutes scenic drive from the capital Georgetown but quiet and secluded enough so that time and tide move slowly and your dreams are undisturbed.
Nested on a quiet cove amid lush tropical foliage, this is a perfect place for a family or a romantic get-away. Mango Kai brings nature and the island breeze indoors. Mango Kai is steps away from the famous Rum Point Beach where water sports or hammocks and seaside dining await.
Mango Kai island houses is ideal for a family of up to six people or for one, two couples.
Mango Kai Island house features a living room, dining area, office room, fully equipped kitchen, laundry room with washer and dryer, two story screened lanai (with 2 sets of 10 foot sliding doors that open to the lanai which allows you to enjoy the indoor/outdoor feeling) that overlooks the cove and offers additional seating and dining area, two bedrooms each with their own private bath, walk in closet, and balconies which overlook the pool and cove to enjoy. Features a spacious two story screened in lanai with easy access to the kitchen and an a Jacuzzi and outside shower at the end of the ramp.
Mango Kai has the perfect location for your vacation. Whether you prefer to relax by the pool or on the beach, stroll in the sand or join the activities of Rum Point, we have it all.
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Two spacious bedrooms, each with an en-suite bathroom, walk-in closet and private balcony, are located on the second floor. The master bedroom has king bed, while the guest room has double beds. Linens, bath and beach towels are provided for your stay. Both Bedrooms has wall air conditioners.
Mango Kai has everything you need for a wonderful vacation. A lovely pool for the exclusive use of the guests of the Island Houses is located on the manicured tropical grounds, a short stroll across the beach from the lanai. Mango Kai two bikes, two kayaks (one single and one double) provide unique ways to explore the area and its many beaches. Tranquil Sand Pointe Cove, as well as the clear turquoise waters of Rum Point provide amazing snorkeling venues. During the day take a wonderful trip to Stingray City, which departs steps from your door, or at night discover the rare bio-luminescence of the cove in your own kayak, provided for the exclusive use of Mango Kai guests.
A great selection of casual and fine dining restaurants are nearby for those times you would rather not make use of the wonderful, fully-equipped kitchen and dining facilities at Mango Kai.
Located on the north side of Grand Cayman in the upscale Cayman Kai community. Mango Kai is a short walk away from Rum Point Beach. You could easily spend your entire vacation enjoying the Rum Point area but we recommend renting a car, exploring and experiencing everything Grand Cayman has to offer. Nearest Restaurants: Directly across the road at Rum Point. The Wreck (Beach) Bar & Grill (home of the Mudslide) and the Rum Point Restaurant for fine dining. Other Local Restaurants: Kaibo Yacht Club a very short distance down the road (with the Luna del Mar - full moon dinner and the Tuesday night Beach BBQ) & Over the Edge (minutes away by car) and slightly further Tukka, Morritt's, the Italian Kitchen, the Lighthouse & many more. Distances to major attractions. Rum Point Beach: Directly across the road with trips available to Stingray City and Stingray Sandbar, snorkel trips and evening cruises, wave runner & paddle board rentals, beach volley ball, hammocks, lounge chairs, and more! A short walk down the beach and you can find a secluded area to enjoy the white sand and calm turquoise waters that make Cayman famous. Snorkeling & Diving: Great snorkeling can be experienced directly across the road at Rum Point plus multiple other locations a walk, bike ride or kayak paddle away. Dive trips leave right from the Rum Point Pier. Bio-luminescent Cove: Right out your back door is an amazing phenomenon you can experience on a dark night using the kayaks provided by Starboard Kai. (Those staying at Seven Mile Beach pay $50 each for this trip - it is yours for free!) Mastic Trail: 5 miles away, hike into the two million year old mastic reserve (on your own or sign-up with a guide). A nice alternative tourist experience. Botanic Park (Queen Elizabeth II): 9 miles away, the park is home to Grand Cayman's Blue Iguana - found nowhere else in the world, and many beautiful trees, plants and flowers, ponds, birds, etc. East End: 12-15 miles away, where you can discover more great restaurants, beaches, kite boarding, snorkeling & diving. Pedro St. James Castle: 19 miles away is a wonderful historic site featuring traditional West Indian architecture. Seven Mile Beach, Georgetown, & Cruise Ships: 28 miles away you will find restaurants, duty free shopping, lovely beach, snorkeling & diving. The Turtle Farm: 33 miles away you can spend the day - lots to see and do with the feature attraction being the Green Sea, Kemps Ridley & Loggerhead turtles. Also see sharks, crocs, fish, birds, indigenous plants & trees, traditional Caymanian buildings, and enjoy the snorkeling lagoon & water slide. While in the area check out the 'Cracked Conch' Bar & Restaurant
|Rate Period
|Weekend Night
Summer Rate 2017
Apr 22 2017 - Sep 1 2017
5 night minimum stay
Fall Special 2016
Sep 2 2017 - Nov 17 2017
5 night minimum stay
Thanksgiving 2016
Nov 18 2017 - Nov 24 2017
5 night minimum stay
Fall Season 2016
Nov 25 2017 - Dec 15 2017
5 night minimum stay
Holiday Season 2016
Dec 16 2017 - Jan 5 2018
5 night minimum stay
|Tax Rate
An initial 50% transferable (within a one year period from date of cancellation), but non-refundable deposit is required to book a reservation within 3 to 5 days to hold the reservation, with the remaining balance payable no later than 30 days before arrival -- Deposit may be made in the form of Credit Card, Certified Check, PayPal, Money Order, or Wire Transfer in USD


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: Glo
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Join Date: Jan 2012
Location: Australia
Device: Kobo: Not just an eReader, it's an adventure!
Originally Posted by
Thanks for confirming that for me. So the amount of memory that a book uses should have no affect on power usage while the device is asleep.
I can understand poorly formatted ebooks (i.e. books that have all their chapters in one huge file instead of splitting into multiple smaller files) having an affect on the processor (i.e. making the processor work harder by having more data to shunt around), but this should only be while you're opening or reading the book, not while the device is asleep. Do you agree?
In general, in sleep mode, the size of the book should not be a factor in battery usage. During sleep mode, the processor should only be refreshing memory, and looking for a hardware interupt, which in this case is the power button being flicked or the usb cable being connected.
It may be possible for the processor to be smart enough to only refresh part of the memory, but then you have to be able to tell the processor which parts of memory are containing valid data. My opinion is that both the Kobo firmware and the processor itself is not up to this task. If they were using an ultra-low power processor, then maybe.
So, during sleep mode, the battery usage should only be dependent on the requirements to keep the memory refreshed and scan for the hardware interrupt (if it has to scan for this), regardless of which book (or any) is currently loaded.
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Framed Art Print
Fun I (NOT REAL GLITTER)by Galaxy Eyes
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Simple Batman Comic Cupcake Cake!
This is my first FBCT transfer and my first cupcake cake. It was for my 2 year old daughters friends birthday and unfortunately I only had about an hour to do it but I think it turned out ok! The transfer is of an actual sketch drawn by a real DC comics artist. I loved how it turned out. Cupcakes were white with chocolate centers, the rest is buttercream of course! :)
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Hi Roller Conveyors ... Sales Position
Date Posted: March 23, 2012
Sioux Falls, SDHi Roller has been designing and manufacturing enclosed belt conveyors for grain and other bulk products for the past 30 years.
Our experience and customer service has earned us the reputation as the leader in the design, development and supply of enclosed belt conveyors.
Hi Roller conveyors contain dust and product spills and automatically reload that material back on to the carrying surface of the belt.
Since the original development of the unique Hi Roller idler, our product line has expanded to include multiple idler configurations as well as integrated slide gates, two-way valves, and intermediate discharge trippers.
Hi Roller conveyors are sold domestically as well as internationally.
This position requires an individual that is personable, ambitious, willing to listen and learn, and has a strong desire to please others.
You will be trained to specify and quote conveyor systems as well as assist existing customers by troubleshooting or assisting them with parts needs.
This is a highly visible position in which you will interact with and be a knowledge resource for existing and potential customers.
The successful candidate would be based out of the Sioux Falls office with approximately 50% travel required.
Travel would include meeting with contractors and end users, representing the company at trade shows, and visiting locations to collect information, measure, and specify conveying systems.
The ideal candidate will have a college degree in business or related field but employer will consider years of experience in lieu of education or an equivalent combination of education and experience.
Hi Roller offers an excellent benefits package including health, life, dental, and disability insurance.
We also offer a 401K plan, medical reimbursement plan, and education assistance plan.
If you are interested in joining our team, please submit your resume to Lynette Tieszen (firstname.lastname@example.com). Hi Roller Conveyors, 5100 W. 12th Street, Sioux Falls, SD 57107-0514.
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Despite an aggressive plan to rebuild its business, Rona Inc. remains a fixer-upper stock.
Shares in Canada's largest home-improvement chain fell 3.7 per cent on Wednesday after the company missed second-quarter earnings expectations. It blamed lower sales on bad weather, soft housing starts, a Quebec construction strike and the loss of revenue from store closures as it revamps its outlets.
The Boucherville, Que.-based company is in the middle of an aggressive turnaround plan to meet competition from U.S. giants, such as Home Depot Inc. and Lowe's Cos. Inc.
Robert Sawyer, who stepped into the chief executive's job in April, calls 2013 "a year of transition," as Rona works to slice $110-million in costs by year end through moves that include shutting 11 stores, cutting 320 jobs and taking a tough line on other costs.
It plans to put 30 per cent of the savings back in the business and is trying to reposition the brand to compete with big box stores during a time when it says, "market conditions are difficult."
While Mr. Sawyer told investors during a conference call on Wednesday that Rona is "done with the bad news" around restructuring, observers are advising investors to remain on the sidelines. All nine analysts who follow the stock have it as a "hold" or equivalent.
Some suggest that investors should look to similar retailing stocks, such as Canadian Tire Corp., if they want to invest in the Canadian home improvement sector.
"I'm not ready to get constructive on [Rona stock] quite yet. I still think we are a few quarters away," said Canaccord Genuity analyst Derek Dley.
While Rona's shares are trading below their book value – usually considered bargain territory – and offer a 1.3 per cent dividend yield, the latest results offer little reason for investors to think a turnaround in the share price is imminent.
Mr. Dley said Wednesday that the April-June period was the 12th consecutive quarter of same-store sales declines in the company's retail division.
"Although Rona appears to be making headway in reducing a portion of its operating costs, top-line challenges will outweigh expense reductions, and we are not yet ready to become more positive on the name," he said in a note.
On Wednesday, Rona reported adjusted earnings per share of 28 cents in the second quarter, which was below the 33-cent estimate from analysts surveyed by Bloomberg, and down from 37 cents last year.
Revenue fell 4.6 per cent to $1.25-billion and same-store sales fell 1 per cent. Analysts were expecting revenues of $1.39-billion, according to Thomson Reuters I/B/E/S.
Rona's net loss from continuing operations was $38.7-million for the quarter ended June 30, compared with a profit of $35.6-million a year earlier. The drop includes $62.8-million in expenses related to the restructuring.
Rona shares closed down 42 cents to $10.84 on the Toronto Stock Exchange Wednesday. It has dropped 22 per cent from its 52-week high of $14 a year ago.
By comparison, shares in Canadian Tire Corp. Ltd. have risen 33 per cent over the past year. Analysts say the company is in a better position to compete in the industry given its more diversified offerings, which span sporting goods and an automotive division, as well as a profitable financial services segment and a recent move to turn its real estate assets into a real estate investment trust.
"[Canadian Tire] is clearly serious about shareholder value," RBC Dominion Securities analyst Irene Nattel said in a recent note.
When it comes to Rona, Ms. Nattel said Canada's slowing housing market and constrained consumer spending will continue to pose challenges to the home improvement retailer.
"Given the strong correlation between Canadian residential investment and [Rona] same-store sales, RBC CM forecasts suggest Rona could struggle to generate a meaningful recovery in same-store sales growth until the latter half of 2014," Ms. Nattel said in a recent note.
Spending on home renovations was forecast to remain flat in 2013 as a result of Canada's softening housing market, according to a report released this year by the Bank of Nova Scotia. The report also said renovation spending increased by less than 3 per cent annually between 2008 and 2012, down from a robust 9 per cent average annual gain between 2000 and 2007.Report Typo/Error
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News & Events
Fiscal Year 2007 Budget Request
Statement of
Andrew C. von Eschenbach, M.D.,
Acting Commissioner of the Food and Drug Administration
the Subcommittee on Agriculture, Rural Development, Food and Drug Administration, and Related Agencies
Senate Committee on Appropriations
February 16 , 2006
Mr. Chairman and members of the Subcommittee, it is an honor to appear before you as Acting Commissioner of the Food and Drug Administration (FDA) to present the President's fiscal year 2007 budget request. I am joined today by Ms. Kathy Heuer, FDA's Chief Financial Officer and Associate Commissioner for Management, and Mr. Richard Turman, Deputy Assistant Secretary for Budget, Technology, and Finance of the Department of Health and Human Services (DHHS). I also have members of FDA's senior leadership with me at today's hearing.
Last September, President Bush selected me to lead an agency to which I appreciate, we, as Americans owe a great debt of gratitude. Millions of Americans go to sleep each night, secure in the knowledge that the food they ate and the medicines they gave their child were safe and effective. They do so, thanks to the thousands of dedicated professionals at FDA who work to assure the safety, efficacy, and security of drugs, vaccines and biological products, medical devices, our nation's food supply, and other consumer products.
This year, the Food and Drug Administration will celebrate its 100th birthday, marking a century as America's gold standard for safety and consumer protection. We began in 1906, when Congress passed and President Theodore Roosevelt signed the Food and Drugs Act. This statute entrusted the Bureau of Chemistry, an office in the U.S. Department of Agriculture, to implement the sweeping new law. The Bureau eventually became the FDA, an agency of the Department of Health and Human Services. As the first consumer protection agency in the United States, FDA has a distinguished record, established during its 100 years of service to the American public.
Today, the products we regulate represent almost 25 percent of U.S. consumer spending and include 80 percent of our food supply and all human drugs, vaccines, medical devices, tissues for transplantation, equipment that emits radiation, cosmetics, and animal drugs and feed. FDA takes great pride in its heritage and accomplishments, promoting and protecting the health and well-being of all Americans.
I assure you that the precious resources you provide this agency in fiscal year 2007 will be used wisely and judiciously to ensure that we maintain this record of excellence, as well as work to respond to the growing challenges to advance the nation's public health in a new era of rapidly developing science and individualized medicine.
I want to thank the Subcommittee members for providing FDA with several key increases in the FY 2006 appropriation. The Subcommittee demonstrated its commitment to FDA's mission by providing increases for drug safety, the Critical Path Initiative, review of direct-to-consumer advertising, Food Defense, medical device review, and the FDA consolidation project at White Oak, Maryland. In addition to the amounts in the annual appropriations bill, I also want to express my thanks to Congress for the supplemental appropriation of $20 million to contribute to our nation's preparedness for the threat of pandemic flu. FDA enters this appropriation cycle mindful of our responsibility and stewardship, and that all federal agencies must operate in an environment where our dollars must go to the greatest need.
FDA's 2007 PRESIDENT'S BUDGET REQUEST
In our FY 2007 budget, the Administration proposes a total program level for the FDA budget of $1.95 billion, an increase of 3.8 percent above the FY 2006 amount. This includes $1.54 billion in discretionary budget authority and $402 million in current law user fees. Our budget also includes $25.5 million for two new user fees. Our budget request maintains critically important core functions and demonstrates that our programs meet a firm test of accountability. At the same time, we are heeding the President's call to assure continued progress by fostering innovation and focusing on emerging priorities. In FY 2007, FDA will employ resources to advance its mission to protect the public health by assuring the quality of food and medical supplies and by implementing advanced technologies to monitor and speed innovations to market that will make foods safer and medical products more effective, safer, and more affordable. We will also implement advanced tools to ensure that the medical community can use molecular biology to improve outcomes for patients. We must accomplish these goals in a way that provides the public with the accurate, science-based information they need to use food and medicine to improve their health.
Specifically, the President's budget request focuses on six high priority areas, and proposes increases in these targeted activities above the amount provided in fiscal year 2006: $30.5 million for Pandemic Preparedness, $19.9 million for Food Defense, $5.9 million for the Critical Path to Personalized Medicine , $4.0 million for Human Drug Safety (plus an additional $0.7 million in user fees), $2.5 million for Human Tissue Safety, and $7.4 million to meet the statutory triggers of the Animal Drug and Medical Device user fee programs.
FDA also seeks $20.3 million for inflationary cost of living increases, $1.2 for the Unified Financial Management System, and an investment of $14.3 million for the agency's infrastructure needs. To partially offset the cost of these initiatives, the President's budget proposes to strategically redeploy $52.3 million in base funds. Even in an era of declining budgets, FDA recognizes the need to modernize and transform operations to address the emerging needs of the 21st century. Therefore, we engaged in an ongoing process to strategically redeploy resources to address high-risk public health challenges while maintaining our century-old commitment to principles that have made us the world's "gold standard" for regulating food and medical products. In doing so, the proposed budget will permit FDA to meet its ongoing statutory and regulatory responsibilities, while allowing us to initiate new and expanded efforts in critical areas of our mission. Now I would like to provide you with greater detail on our proposed budget increases.
To safeguard Americans from the danger of pandemic influenza, FDA requests a total base program of $55.3 million in FY 2007. This amount is $30.5 million more than the FY 2006 enacted level (including the $20 million in supplemental appropriations provided by P.L. 109-148). With these funds, we will conduct a comprehensive program to prepare for and respond to the risks of a pandemic flu outbreak. The resources in this request will allow FDA to:
- Engage in public-private partnerships to select, prepare, and test pandemic seed strains.
- Develop reagents (used to assess vaccine potency) that are essential for successful large-scale manufacturing.
- Evaluate and license flu vaccines that rely on current technology and promising new approaches (such as cell culture-based vaccines) to permit faster and more efficient vaccine manufacturing.
- Provide essential technical support to vaccine manufacturers throughout the vaccine development process, including support throughout the manufacturing phase.
- Develop analytical methods to detect, identify, and quantify antiviral residues in poultry and take steps to ensure that these drugs are not used in ways that promote drug resistance in humans.
- Develop and validate methods to detect avian influenza in foods and reassure American consumers about how to safely handle and cook these foods.
We make this request because public health experts tell us that the risks of being unprepared for a pandemic could mean the death of up to 200,000 Americans (based on a medium-level pandemic scenario) and economic losses of up to $160 billion. In the near term, our pandemic initiative will stimulate broader interest among vaccine manufacturers, as they recognize that FDA will provide consistent technical support to overcome vaccine development hurdles. We have already seen results in this area. In the longer term, our FY 2007 investment will yield essential seed strains and reagents, and allow us to transfer this technology to manufacturers, while we also perform our regulatory responsibilities of evaluating and licensing pandemic influenza vaccine products. Over the next 2-4 years, we will also fulfill our public health responsibilities related to foods and veterinary products, by delivering methods to detect antiviral residues and by educating Americans about safe food practices.
FDA seeks an investment of an additional $20 million in FY 2007 to protect the nation's food supply from terrorist attack, by developing and deploying improved methods to screen food and feed imports and expanding the Food Emergency Response Network (FERN).
FERN is a network of federal and state laboratories designed to ensure that we have the analytic surge capacity to respond to an attack on the food system. By the end of FY 2006, we plan to have an operational FERN system of 10 Federal and 10 state labs. The FY 2007 funds ($13 million) will allow FDA to expand the current network by six additional labs, located at existing state facilities, and we will work to bring these on-line before the end of the fiscal year. We will fully equip these new labs, and provide operational funding and technical assistance so that they can conduct food defense activities. Our technical assistance will include proficiency testing on the new equipment and training to validate their ability to conduct food testing in response to an emergency. The result of this investment will be a more robust and more geographically diverse capability to provide the essential surge capacity to test contaminated food samples and allow us to warn the public about threats to the food supply. By working cooperatively with state facilities, we can stretch our federal dollars and strengthen food defense at the Federal and state level.
Within the $20 million increase, we will also:
- Conduct food defense research ($1 million) to fill in gap areas that we identified in the vulnerability assessments we conducted on 23 major food products such as baby food, infant formula, dairy products, soft drinks, and bottled water.
- Strengthen the Electronic Laboratory Exchange Network (eLEXNET), an Internet based data exchange system used by federal, state, and local government food safety laboratories. Using FY 2007 funds, we will use eLEXNET to provide food sector-specific information to sister agencies and build a secure interface so that we can exchange data with DHS. Finally, we will purchase essential reagents and test kits to conduct biomonitoring surveillance. In FY 2007, we will spend $2 million of the Food Defense increase for these activities.
- Improve our Emergency Operations Network ($1 million) to allow FDA to conduct more sophisticated incident tracking for food-related emergencies.
- Continue Field support of food defense operations ($3 million), including the targeting of potentially high-risk imported foods through Prior Notice Import Security Reviews based on intelligence, FDA inspection reports, discrepancies in prior notice reporting and sample collection and analysis.
FDA requests an increase of $5.9 million in FY 2007 for the Critical Path to Personalized Medicine Initiative. This will allow us to increase the predictability and efficiency of developing new medical products, and deliver greater benefits to patients as we accelerate the field of personalized, predictive, preemptive, and participatory medicine. Our goal is to stimulate a new generation of scientific tools that will enable product sponsors to evaluate and predict the safety and effectiveness of drugs. This will permit physicians to tailor therapies to individual patients and avoid potentially dangerous adverse events. The Critical Path to Personalized Medicine Initiative fulfills the Congress' expectation under the Food and Drug Administration Modernization Act, when it charged FDA to work collaboratively with partners in government, academia, and industry to advance medical product development.
The FY 2007 investment will support:
- Imaging Initiative – Our Critical Path investment will support efforts to accelerate an understanding of the use of positron emission tomography (PET) and other advanced imaging technologies as surrogate endpoints for developing new cancer drugs. A surrogate endpoint helps to predict the benefit that a patient may experience from therapy. In FY 2007, we will participate in developing technical standards for PET imaging – the tools that will enable drug developers to evaluate and improve the effectiveness of new products.
- Improving Stent Design – Cardiovascular disease is a significant cause of morbidity and mortality in the U.S., and drug eluting stents have become a standard therapy to address cardiac disease in many patients. Today, most vascular stents eventually fail and alternative designs are difficult to test in humans. Our objective is to improve stent performance and safety by predicting and avoiding product failures. In FY 2007, we will develop the preliminary components of a simulation model of drug eluting stent behavior in adults and children. Also in FY 2007, we will work to develop open source imaging software to assess stent performance and begin to develop guidance for industry on using the simulation model to predict stent performance.
- ECG Warehouse – We will invest funds to develop the tools to permit searches of electrocardiogram (ECG) data submitted with drug applications so that we can identify cardiovascular risk patterns associated with unsafe drugs. We will also partner with academia and the public sector in FY 2007 to conduct additional ECG analyses. This will improve our ability to identify cardiac safety concerns before we approve a drug for marketing and also detect post market safety signals. Through these activities, we will help ensure that therapies are safe and effective, and we will improve outcomes for patients who are using products that are already on the market.
The need for new medical treatments and the investment of billions of dollars in basic biomedical research led many in the medical community to anticipate a new wave of medical products capable of dramatically saving and extending lives. Yet the recent slowdown in the rate of new medical treatments actually reaching patients is a significant concern at FDA. Products fail before they reach the market because clinical trials fail to demonstrate safety or efficacy, or they cannot be manufactured at a consistently high quality. Despite recent innovations, many serious and life-threatening diseases still lack effective treatments.
At FDA, we witness the full spectrum of drug, device, and biologic product development. From this unique perspective, it is clear that the development of evaluative scientific tools to utilize in medical product development has not kept pace with the rapid advances in basic sciences. The path from cutting-edge medical discovery to the delivery of safe and effective treatments is long, arduous, and uncertain – and it does not yield extensive information on product performance. To correct this imbalance, FDA initiated the Critical Path to Personalized Medicine, a program designed to modernize medical product development to ensure more efficient and more informative product development and clinical use. FDA considers the Critical Path Initiative to be its top scientific policy initiative for at least the next five years.
FDA's Critical Path Initiative will stimulate research community efforts to identify the essential biomarkers and improved clinical trial designs that will accelerate product development. Biomarkers are measurable characteristics that reflect physiological or disease processes. Medicine can use biomarkers to predict or monitor response to therapy. The initiative will generate essential information to identify patients likely to benefit from a treatment and patients more likely to respond adversely to a product. Without clinically proven biomarkers and innovative trial designs, we cannot modernize medical product development and realize the potential of personalized medicine. The subcommittee recognized this need when it appropriated funds for FDA in fiscal year 2006 to study cardiovascular biomarkers predictive of safety and clinical outcomes, and the funds that we request in FY 2007 will support broader efforts to achieve personalized medicine.
FDA will build on recent improvements to its drug safety activities with an FY 2007 increase of $4.7 million (a $3.96 million increase in budget authority and $0.74 million in PDUFA user fees). The proposed FY 2007 budget will provide a significant increase to our base resources for drug safety and will allow FDA to continue to strengthen our capacity to recognize and act on emerging drug safety concerns.
As we plan for fiscal year 2007, we must continue to focus on the needs of the patient. We must constantly ask ourselves – how can we achieve the proper risk/benefit balance while speeding patient access to safe and effective products? U.S. pharmacies fill approximately 3.7 billion prescriptions per year and consumers make more than 5 billion over-the-counter drug purchases annually. The effect of these medicines on the full spectrum of our population causes unforeseen problems to surface that may not have appeared during the sometimes-lengthy drug review process.
Our FY 2007 drug safety request will permit us to launch a web-based system that provides agency analysts faster access to adverse event reports. Known as AERS II, this system will allow FDA to more easily evaluate potential safety issues, and improve our ability to take follow-up actions to protect patients. FY 2007 funding will also allow us to analyze valuable drug safety information housed in CMS and other population-based databases and to conduct studies of high priority safety issues in the Medicare population. Studies conducted on these types of databases will provide more supporting evidence about drug use under a broader range of conditions, and more detailed evidence about drug safety in subgroups of patients, such as the elderly, and in patients with multiple medical conditions. This will provide FDA with many of the tools necessary to formulate and communicate safety information to health care practitioners, consumers, and the research community in a more timely and user-friendly way.
We have made important drug safety enhancements during the past year, and I would like to highlight these activities for your now. The members of this Subcommittee provided an increase of $9.9 million in FDA's FY 2006 budget. We will bolster premarket and postmarket drug safety functions by using these funds to:
- Increase the professional staff in FDA's Center for Drug Evaluation and Research (CDER) who perform high priority drug safety reviews.
- Increase the number of staff with expertise in critical areas, such as risk management, risk communication, and epidemiology.
- Expand our information technology infrastructure for monitoring post-marketing data by increasing access to a wide range of clinical, pharmacy, and administrative databases.
- Hire additional experts to enhance use of multidisciplinary, multi-office teams to interpret drug safety data.
- Access external population-based "linked" databases to identify drug safety signals.
Other important drug safety accomplishments during the past year include:
- Establishing a Drug Safety Oversight Board to provide independent oversight and advice on drug safety and disseminating safety information.
- Appointing a new director of CDER's Office of Drug Safety.
- Conducting a public meeting of experts to assess risk communication about drugs and to plan future communication efforts.
- Unveiling a major revision to the format of prescription drug information, commonly called the package insert, to give healthcare professionals clear and concise prescribing information.
These efforts emphasize our commitment to providing the American public with safe and effective medical products.
FDA requests an increase of $2.5 million to provide the essential resources to support a human tissue safety. These funds will allow the agency to:
- Commence a comprehensive risk-based approach to assure the safety and quality of human cells, tissues and cellular and tissue-based products used for transplantation. Examples include corneas, heart valves, ligaments, joints, skin, or other tissues.
- Promptly monitor and investigate adverse events and tissue product problems.
- Take early action to improve tissue practices and prevent tissue-related injuries and deaths.
- Educate industry, the medical community, and the public about human tissue safety.
- Support promising new technologies that use cells and tissues, including therapies for diseases such as cancer, AIDS, Parkinson's disease, hemophilia, diabetes, and other serious conditions.
This program will provide guidance and predictability to more than 2,000 registered establishments that process and distribute tissue products used in medical procedures that save or enhance the lives of recipients. FDA has seen its workload in the area of human tissue transplants rise dramatically as transplants have increased from approximately 350,000 in 1990, to more than 1,000,000 annually. The number of transplants will continue to rise in the years ahead.
With these resources, FDA will conduct 75 additional tissue inspections in FY 2007 and thereby increase our annual inspection coverage to 325 facilities. Through inspection and monitoring activities, we can ensure that establishments demonstrate safety and efficacy of their products. These funds will also permit FDA to rapidly review, track, and analyze tissue deviation reports. Finally, we will issue guidance for industry on emerging issues relating to the eligibility of donors and good tissue practices. The goal of these efforts is to ensure safe outcomes for patients when they receive tissue transplants.
FDA's announcement in early February that we ordered a New Jersey company to cease operations is evidence that we will take action to protect the public health against tissue manufacturers that fail to follow safety requirements. This is an example of the targeted enforcement action we will conduct to protect the public health when we have evidence unsafe tissue practices.
BUDGET AUTHORITY IN SUPPORT OF USER FEE PROGRAMS – MDUFMA and ADUFA (+$7.4 MILLION)
To achieve more timely and cost-effective review of new medical devices and animal drugs, we continue to implement Medical Device User Fee and Modernization Act (MDUFMA) and the Animal Drug User Fee Act (ADUFA). Congress enacted these statutes to allow the agency to collect user fees from companies that submit medical device and animal drug applications.
In FY 2007, we are requesting a total increase of $7.4 million in new budget authority ($4.9 million for medical devices and $2.5 million for animal drugs) to ensure that we meet statutory requirements, known as triggers, and fulfill the FY 2007 performance commitments under these programs. If we do not receive sufficient budget authority to meet the statutory triggers, FDA will lose the right to collect $55.3 million in user fees. The flow of potentially life saving medical devices will decline and the use of unapproved drugs in food-producing animals will likely rise.
Under both these user fee programs, we pursue a complex and comprehensive set of product review goals. Each year brings additional goals, and the goals become more aggressive. FDA provides a complete report on its performance on under these programs at the end of each year.
The proposed increase will permit FDA to maintain its highly skilled scientific and professional review staff and conduct speedier review and approval of safe and effective medical devices. Under MDUFMA, FDA is meeting, or is on track to meet, nearly all of the performance goals for FY 2003, FY 2004, and FY 2005. We will continue to make program improvements to ensure we meet the goals for FY 2006 and FY 2007. Under ADUFA, FDA expects to meet or exceed all performance goals.
Soon after the President appointed me Acting Commissioner, I told my FDA colleagues that the well-being of our agency's employees was one of my top priorities. The talented and dedicated FDA employees are the most important reason for our Agency's success.
The proposed increase of $20.3 million to meet inflationary pay costs is essential to FDA's ability to accomplish its public health mission. Payroll costs account for more than sixty-percent of the FDA budget, and the Agency is not able to absorb inflationary increases on such a significant portion of its resources. To meet this need, the agency requests an increase of $20.3 million. These funds will allow FDA to maintain its world-class workforce and achieve the promise of a healthier America.
FDA's diverse portfolio of pubic health responsibilities demands that we maintain a large cadre of scientists and professionals with the training and experience to respond to complex and escalating public health challenges. This workforce is directly engaged in both developing the science of regulation as well as administering regulatory functions.
FDA professionals are increasingly challenged by evolving food defense responsibilities as well as growing responsibilities in regulation of vaccine, drug, and device, development. Within the past year, they have addressed threats such as BSE (Mad Cow Disease), Salmonella, West Nile Virus, and pandemic flu. The FDA workforce reviews, approves, and continues to ensure the safety and effectiveness of products to manage cancer, diabetes, and heart disease, as well as oversee products intended to preserve health. FDA principally expends its budget for payroll that allows us to recruit and retain a skilled workforce dedicated to safeguarding the public using advanced tools to preempt public health threats.
In fiscal year 2007, FDA seeks an increase of $1.2 million to fully utilize the Unified Financial Management System (UFMS) for all of our financial transactions. These funds will allow FDA to achieve a major program milestone in the implementation of a new centralized financial management system under the Department of Health and Human Services (HHS). These additional funds would bring the fiscal year funding level to $14.1 million.
UFMS is changing the way HHS agencies do business at it improves efficiencies in business processes and technology It will replace five redundant and outdated accounting systems in use at the National Institutes of Health, the FDA, the CDC, the Centers for Medicare and Medicaid Services, and the DHHS Program Support Center. The requested increase and the base funds in our budget will support dual functions. First, as a component of the Department-wide system, FDA resources will support testing and integration of the UFMS system, as well as regular operation and maintenance of UFMS. Second, FY 2007 funding will support FDA-specific functions such as the purchase of reporting tools and software licenses, essential system upgrades and new software releases, and training to support FDA users of this new system. This will ensure that we satisfy financial requirements and provide timely financial information to executives and managers to support better decision making. As FDA fully integrates UFMS into our systems and way of doing business throughout FY 2007, we expect to witness the projected efficiencies for this vital enterprise and will be able to use UFMS' full financial management capability.
In FY 2007, FDA submits a modest request to fund three fundamental components of our physical infrastructure:
- An increase of $10.5 million for rent payments to the General Services Administration (GSA).
- An increase of $3.8 million in budget authority to maintain progress on the White Oak Consolidation project.
- A reduction of nearly $3 million below the fiscal year 2006 appropriated level for our Buildings and Facilities account.
In total, these proposals would result in a net increase of $11.3 million for FY 2007.
We also plan to commit $8.2 million in PDUFA carryover funds to the White Oak project and $1.9 million for GSA rental payments. FDA continues to seek support for the White Oak project with the goal of eventually housing over 7,700 staff in 2.3 million square feet of space. As of the end of calendar year 2005, we have approximately 1,850 staff on site at White Oak, in three buildings with almost 700,000 square feet. The new buildings will eventually replace all 40 existing, fragmented facilities in 16 locations that support the Office of the Commissioner, and all of our Centers and the Field headquarters, other than the Center for Food Safety and Applied Nutrition and the National Center for Toxicological Research.
In addition to those user fees authorized by statute, the FDA is proposing two new user fees. The first, estimated at $22.0 million, would pay the full cost of reinspection and other FDA follow-up work if a manufacturer fails to meet important FDA requirements such as Good Manufacturing Practices, which help ensure high quality and safety of FDA regulated products. When a firm fails an inspection, FDA must conduct a reinspection and perform associated laboratory analysis to verify the firm's corrective measures.
The reinspection user fee will ensure that facilities that fail to comply with established health and safety standards bear the cost of FDA follow-up inspection. We are asking Congress to assess the cost of follow-up inspections on those who fail to comply, rather than on the American taxpayer, who bears the cost today. The natural consequence of this change will be that manufacturers will work to ensure that they meet established standards.
The second proposed new user fee will cover the cost of issuing an approximately 37,000 food and animal feed export certificates. We have estimated the cost of this user fee program at $3.5 million. Although the agency's effort to issue these certificates benefits industry exports, FDA must support this function at the cost of other vital public health activities. FDA's proposal for user fees would establish a source of dedicated funding for this activity and allow the agency to better perform this function. The domestic food and animal feed industry would benefit from the agency's enhanced ability to facilitate the exportation of their products.
The Federal Food, Drug, and Cosmetic Act (the Act) authorizes FDA to collect user fees for export certificates for human drugs, animal drugs, and devices. However, this authority does not extend to collecting user fees for export certificates for foods and animal feed. FDA expends significant resources annually to issue these certificates, and the agency needs to focus its resources on activities that are central to its public health mission. The Administration has asked that Congress fund these two user fee programs with mandatory budget authority.
We are also requesting an increase of $20.2 million for user fees that support prescription drug review, medical device review, animal drug review, mammography inspections, export certification, and color certification fees, for a total FY 2007 user fee level of $402 million. These fees enable FDA to review medical products in a timely manner and reimburse FDA for two services (color certification and export certification for human drugs, animal drugs, and devices) that we provide to industry. All of these requested fee increases are authorized under current law. In FY 2007, FDA will work with Congress on the reauthorization of the PDUFA, MDUFA, and ADUFA user fee programs.
FDA's program level request of $1.95 billion is necessary to perform our mission – established by Congress – to protect and promote the health and safety of the American public. At the Food and Drug Administration, we work tirelessly to fulfill these public health responsibilities. Our goal is to maximize the benefits and minimize the risks from the products we regulate. Among my highest priorities as Acting Commissioner – for as long I am privileged to serve at the helm of FDA – will be to foster the development of the FDA of the 21st Century. Building on the success of the past, we will maintain our "covenant of trust" with patients and the public. We will assure they have safe, effective, modern, and cost efficient solutions for the challenges to their health and well being of their children and grandchildren.


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Keira Knightley: "No One Makes a Boob Out of Me!"
Sorry, cleavage fans. If you were hoping for satisfaction from the upcoming flick The Duchess, Keira Knightley has bad news for you.
British news site Mail Online says that the super-slender actress and sometimes songbird is refusing to let her bosom be unnaturally enhanced in promo photos for the flick, as happened in posters for her 2004 effort King Arthur.
"She has insisted that her figure stay in its natural state," says the Mail's source. "She is proud of her body and doesn't want it altered."
The 23-year-old's natural state remains waifish as always in the film, according to the source, who adds, "'She looks flat-chested in the whole movie."
Maybe the producers should have jumped on the latest Hollywood trend and demanded that Knightley eat a sandwich or two in preparation for the role. If Keira insists on maintaining her twiggish physique, her wallet may become as flat as the rest of her.


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Matthew Malin and Andrew Goetz aren't being coy when they say they met at The Bar—that's the actual name of the Manhattan watering hole where they originally crossed paths in 1994. The grooming power couple dated for 10 years before launching their apothecary-style skin and haircare brand. Their reasoning was simple: If they could make it a decade as life partners, they had a shot at succeeding together in business.
Best part of working with your partner:
Matthew: Trust.
Andrew: No politics, no ulterior motives—just a firm (and fun) commitment to our love child.
Product you're most proud of:
Andrew: It's nearly impossible to narrow down our pride to one particular product. That being said, I have become deeply fond of our 10% glycolic acid pads.
Matthew: If I must, it is the grapefruit face cleanser. It's simply one of our best sellers, a brand staple, and the starting point for healthy skin. Love it.
Secret to lifelong harmony:
Andrew: Try not to discuss work-related issues over dinner.
Grand Central Beauty
When Jackie Lee and Ginger King met up in person at New York's Grand Central Terminal after connecting on LinkedIn, they discovered that they were both Chinese, lifelong beauty addicts, and aspiring entrepreneurs—plus they shared a wealth of beauty retail experience. Less than two years later, they were churning out groundbreaking skincare products, like their S.M.A.R.T. Skin-Perfecting Polisher.
Why they're the perfect match:
Ginger: She's the "Jackie of all trades." I can sleep tight at night knowing Jackie is on it. Another secret? Jackie is my go-to human test subject for our products. If it works for her sensitive skin, I know we can go ahead with a full-on clinical study without throwing money down the drain.
Jackie: Ginger King is "king" of product innovation! She has a passion for products—both as a professional and a consumer—like no one I've met before.
Bonding ritual:
Jackie: A full day (and sometimes night) of product testing. We have very different skin types, which is actually good for the brand. If it can work for us, it can work for you.
It all began with a boy, a girl, and a motorcycle (of course). Caudalie founders Mathilde and Bertrand Thomas fell in love back when Bertrand rode a motorcycle to class and Mathilde traveled by rickety bike. In 1993 the couple realized that Mathilde's family vineyard in Bordeaux was effectively a skincare goldmine. Just two years later, the husband and wife duo had patented a process for extracting grape-seed polyphenols—a dynamite antioxidant—to use as the basis of Caudalie's grape-derived skincare line.
Perks of working with your spouse:
Mathilde: The best part is being able to travel together. We do date nights when we travel, and that's such an important part of keeping our relationship balanced.
Bertrand: At the end of the day, we know our commitment to each other and this business is 100% genuine.
Biggest challenge:
Bertrand: We have to be lovers before being business partners. Otherwise the whole balance falls apart.
The heart of the business:
Bertrand: We're very proud to give back 1 percent of our sales worldwide to environmental organizations to help make a better world for our children. For instance, in 2012, for every Divine Oil purchased, a tree was planted in a forest in the Andean Amazon in Peru, on the site of Alto Huaya Bamba. So by the end of 2012, 150,000 trees had been planted!
Floss Gloss
While studying at California College of the Arts, Aretha Sack and Janine Lee bonded over beauty, fashion, rap music, and most of all: nail art. Before long, they'd parlayed their passion into a full-blown business, launching a line of ultramodern lacquers, and Floss Gloss Nail Polish quickly gained a cult following.
Why they're a perfect match:
Aretha: We're polar opposites. I love Janine's ability to multitask.
Janine: Currently we're the only two employees, so we really have to be there for one another. Aretha is a color genius and keeps the mood at work light and happy. I'm never surprised if she's twerking and emailing.
Perks of working with your BBF:
Janine: We get to dream up our nail color fantasies and turn them into reality. That's pretty cool.
Aretha: We can hit the club after work.


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S Vulpeculae star
A type of long-period variable consisting of a yellow giant or supergiant that behaves like a Cepheid variable most of the time but occasionally goes through phases when it becomes erratic and unpredictable. S Vulpeculae itself has a period of 68.5 days.
Related entry• variable stars
Related category• TYPES OF STAR
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Home > Hedge Funds > Fortress Investment Group > News, Interviews, and Investor Letters
Hedge Fund - Fortress Investment Group
- Profile
- Holdings
- Latest 13D & 13G Filings
- News, Interviews, and Investor Letters
News, Interviews, and Investor Letters
Leading private equity and asset management firm Fortress Investment Group was in the news recently after it was announced that the firm would be closing its main macro-themed hedge fund, Fortress Macro...... (read more)
Hedge Funds' Latest Moves: Diamondback Energy Inc (FANG), Walker & Dunlop, Inc. (WD), Town Sports International Holdings, Inc. (CLUB)
We have a jam-packed update with the latest series of filings concerning some of the top stock picks among the hedge funds we track. Notably, two funds both filed on the same company, Town Sports International...... (read more)
March 26th, 2015 - Hedge Funds News - Comments
Hedge Fund News: Michael Karsch, Paul Singer, Bill Ackman
Veteran stock picker Michael Karsch said he is planning to launch a hedge-fund firm this year. The hedge-fund manager closed down his $1.8 billion Karsch Capital Management in late 2013, telling investors...... (read more)
January 29th, 2015 - Hedge Funds - Comments
Hedge Fund News: Paul Singer, Stanley Druckenmiller, Alan Howard
Paul Singer thinks the recent dramatic move in the Swiss franc—and resulting losses—shows just how exposed most investors are to market risk. "Given the pricing and the still opaque and over-levered...... (read more)
January 21st, 2015 - Hedge Funds - Comments
Walker & Dunlop, Inc. (WD): Fortress Investment Group Reports Selling Shares in Underwritten Offering
Fortress Investment Group's hedge fund managed by Michael Novogratz has cut its position in Walker & Dunlop, Inc. (NYSE:WD), a new filing with the Securities and Exchange Commission showed. Fortress...... (read more)
November 28th, 2014 - Hedge Funds News - Comments
Hedge Fund News: Michael Novogratz, Julian Robertson & Marc Faber
Fortress Investment Group LLC (NYSE:FIG) gave four of its top executives $63 million in compensation last year. As part of the package, the first publicly traded private-equity and hedge-fund firm is...... (read more)
September 19th, 2014 - Hedge Funds - Comments
Apple Inc. (AAPL), Autodesk, Inc. (ADSK) and Baidu Inc (ADR) (BIDU) – Tech Stocks Michael Novogratz's Fortress Investment Group Is Betting Big On
Fortress Investment Group has revealed in the latest round of 13F filings some important moves, and several of them are in tech stocks. The fund's current portfolio has an estimated worth of $6.98 billion...... (read more)
August 18th, 2014 - Hedge Funds News - Comments
Nationstar Mortgage Holdings Inc (NSM), Springleaf Holdings Inc (LEAF): Novogratz's Investment Ideas at the Delivering Alpha Conference and a Few His Picks
A few hours ago, Michael Novogratz of Fortress Investment Group spoke at the Delivering Alpha Conference´s panel on "Best Ideas," along with Omega Advisors' Leon Cooperman and Glenview Capital...... (read more)
July 16th, 2014 - Hedge Funds News - Comments
Hedge Fund Highlights: Wilbur Ross, Steven Cohen & Michael Hintze
With the stock market recently at all-time highs, before Thursday's sharp selloff in futures and weakness earlier this week, it's more attractive to sell than buy, private-equity billionaire Wilbur Ross...... (read more)
July 10th, 2014 - Hedge Funds - Comments
Hedge Fund Highlights: Steven Cohen, George Soros & Bill Ackman
Patricia Cohen, the ex-wife of SAC Capital Advisors LP founder Steven Cohen, has subpoenaed the U.S. Securities and Exchange Commission in her fraud suit alleging the hedge fund boss hid assets during...... (read more)
July 2nd, 2014 - Hedge Funds - Comments


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Live Video | Live Stats | Game Notes
Twitter Updates (@PennWBB) | Facebook | Shop
PHILADELPHIA - Penn (6-4) has won six of seven and still controls its own destiny toward the program's first-ever Big 5 title. However, city rival Saint Joseph's (8-5), a team the Quakers have only beaten once in their history, stands in the way. The Hawks visit the Cathedral of College Basketball on Saturday. Tip off at The Palestra is at 2 p.m.
Catching the Game
Video and live stats will be available on the Penn Sports Network (PSN) at PennAthletics.com. A complete recap and box score can then be found at PennAthletics.com shortly after the conclusion of each game.
In the Series vs. Saint Joseph's
Penn has won just once in 37 all-time meetings against Saint Joseph's. That victory came in Hagan Arena in 2004 (64-57). Since then, the Hawks have won seven straight, including last season at Hagan where the Quakers led by seven midway through the second half. Penn Head Coach Mike McLaughlin is 2-11 overall against the Big 5 in three-plus seasons and 2-8 against the Atlantic-10. Each of those wins came at home.
About the Hawks
Saint Joseph's only road loss of the season came on Monday at No. 17 UCLA, 73-65. The Hawks also boast a win over No. 5 Maryland, 50-49. They have one common opponent with the Quakers as they won at Drexel, 47-45, on Nov. 14, while Penn lost on the road to the Dragons, 77-50, on Dec. 21. The Hawks rank fifth in the 16-team Atlantic-10 in defense, allowing 56.0 points per game, but rank near the bottom of the league in rebounding. Saint Joseph's is second in the A-10 in turnover margin and assist-to-turnover ration. Chatilla van Grinsven leads the Hawks with 13.4 points per game, while Erin Shields is also in double figures at 10.2. Grinsven also leads the team with 9.4 rebounds per game and 22 blocks. Natasha Cloud has a team-best 49 assists, while Ashley Prim has 46. Cloud, who averages 8.2 points per game, leads the Hawks with 19 steals as well. Kelsey Berger has a team-best 39.1 shooting percentage from beyond the arc.
Atop the Ivies
Penn boasts the stingiest defense in the Ivy League - giving up just 54.8 points per game - and behind junior Courtney Wilson's Ivy League-best 1.9 blocks per game (which also ranks in the top 50 in the nation), Penn leads the Ivies with 4.3 blocks per contest. The Quakers also boast the best turnover margin in the league at plus-4.30 and are second in assist-to-turnover ratio (0.9). Individually, junior Alyssa Baron leads the Ivies in assists (3.6) and is third in scoring (14.1). Baron is also tops in assist-to-turnover ratio (3.6) and is second in minutes played (34.9). Sophomore Renee Busch is second in three-point percentage at a 9-for-18 clip.
Topping the Big 5
Its a daunting task each year for the Quakers to take on the Big 5. The conference for city bragging rights includes the other four Division I schools in Philadelphia—Temple, La Salle, Saint Joseph's and Villanova. The first three are in the Atlantic-10 conference and the Wildcats are in Big East. Penn lost 24 straight Big 5 games after a win over Saint Joseph's on Dec. 1, 2004 at Hagan Arena, 64-57, and were 1-30 since that time against the Big 5. But the Quakers have now won two of the last three against their city rivals at The Palestra and are currently unbeaten in Big 5 play this year.
Penn Trends
Penn won six of seven games for the first time since a seven-game winning streak in 2004-05 ... Penn has won seven of their last nine non-conference home games ... In 10 games, Six different Quakers have led the team in scoring this year, including five different players in the last five games ... Penn is 6-1 with its current starting lineup of Baron, Ray, Roche, Allen and Bonenberger ... Including ties, six different Quakers have led the team in rebounding in the first 10games ... Three different Quakers have scored more than 20 points in a game this season (Baron, Roche, Ray) ... Alyssa Baron has started 66 consecutive games for the Quakers ... Junior Meghan McCullough played in 59 straight games dating back to the 2010-11 season opener prior to suffering a season-ending injury at Army (Nov. 18).
Climbing the Record Books
Junior Alyssa Baron became the 19th Penn women's player to reach 1,000 career points on Nov. 30. She is the third-fastest Quaker to accomplish that milestone (60 games) and the first since Carrie Biemer topped the landmark in 2008. Only Penn's all-time leading scorer (man or woman), Diana Caramanico (48 games) and Mandy West (52 games) were faster to 1,000 points. A two-time Ivy scoring champion, Baron became the first freshman in Ivy history to lead the league in scoring and now has 1,077 points in her career, which ranks 12th all-time at Penn. She is now just 24 points from reaching the top 10.
A Penn Win Would...
... mark seven wins in the last eight games.
... be the first all-time over Saint Joseph's at The Palestra.
... mark two Big 5 wins in a season for just the second time in program history (2004-05).
... make the Quakers 7-4 on the year.
A Penn Loss Would...
... mark the eighth straight loss to Saint Joseph's.
... be the 37th loss in 38 meetings with the Hawks.
... make the Quakers 6-5 on the year.
Charge for a Cure!
For the third straight year the women's basketball team is dedicating its entire season to the fight against several diseases and the team needs your help. In its first two years, 109 donors have joined the "Charge for a Cure" program which helped the team raise nearly $7,000. Each month of the season will be devoted to help a specific disease with personal ties to the program—The Michael J. Fox Foundation, Go4theGoal, the American Cancer Society, The Dave Bryan Ride on Fund, and the Cystic Fibrosis Foundation of America. At the end of each month, the coaches will total the number of offensive charges the Quakers have taken as a team and fans can pledge a donation per charge. This month the Quakers will be taking charges for the American Cancer Society, but the team is turning to its fans to lend a hand in its efforts. Here is how you can help!
Join Today!
|Last Game:
|January Total:
|Season Total:
Last Time Out
A total team effort led to a dominant victory Penn finished 2-0 at the Cyclone Challenge with a 61-39 win over Air Force on Sunday afternoon at Hilton Coliseum in Ames, Iowa. Penn had 11 different scorers, led by junior captain Alyssa Baron's 16 points. But it was the dominant team defensive effort that was most impressive. The Quakers allowed just 16 baskets and forced 23 turnovers. Eight Quakers had at least one steal and Penn finished with seven blocks, led by junior Courtney Wilson, who matched a career high with four. Air Force got within 18-9 at the 8:39 mark of the opening half, but the Red and Blue went on an 11-2 run to end the first half. There were five different scorers in that span. Baron connected on two fastbreak layups to end the half with Penn up 33-13. Air Force briefly closed to within 45-28, but the Red and Blue scored 10 of the next 12 and led 55-30 with 4:36 to play. Penn went unbeaten in its first two games in the state of Iowa. The Cyclone Challenge was hosted by Iowa State of the Big 12 Conference. The Quakers also topped Alabama State in the opening round, 52-37, as the Penn bench had nearly half the team's points (23) and sparked an early game-changing run to put the Quakers in the lead for good.
Up Next
Penn hosts the first game of a doubleheader with the men's team on Tuesday. The Quakers take on Morgan State at 5 p.m. at The Palestra and then the men host Lafayette at 7:30 p.m.
Download: 11-Saint Joseph's.pdf


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Is there another sport that puts so many obstacles, literal and metaphorical, in the way of actually completing a competition as horse trials? Maybe the clue is in the word trial, as in the definition 'a painful and difficult experience'.
At the beginning of every event, three day or one day, one knows that some riders, owners and grooms will go home disappointed, devastated even, while others go home on cloud nine, thrilled and elated, and will re-live the moment for days and weeks to come.
The agonies and ecstasies of Burghley are still playing out and, boy, what an emotional roller coaster of an event it has been.
In the last two hours alone, Emily Lochore went through joy, completing the challenging cross-country with Hexmaleys Hayday, a not very easy horse of unknown breeding that she bought as a four year old with no expectation of four-star events. Success was followed by anxiety — worrying whether the horse was ok — and then relief when he passed the final horse inspection, although the lovely-moving Hayday, who doesn't like crowds, never looked like he was going to be a casualty of the veterinary panel. Still, the relief was palpable.
At this stage, riders start to relax, as there is just the matter of a few coloured fences to jump over. For Lochore, though, it suddenly went awry at fence three, the gate, when, on a wrong stride, Hayday skidded into the gate and slipped over. Lochoreended up sitting on the grass, eliminated. Gutted doesn't even come close to explain how you feel when you leave the main arena on your feet.
Others who have felt the pain and disappointment, too. Local rider Willa Newton produced one of the fastest rides of the day yesterday and moved up the leader board from 62nd -after dressage to 16th. This morning the horse was withdrawn.
Jeanette Brakewell rode one of the more professional and tidiest rounds yesterday and was then eliminated at the final horse inspection.
First-timer Kirsty Short missed a fence on cross country and was eliminated.
Oliver Townend could be in the lead, was it not for a surprise lurch to the left at the island fence in the trout hatchery in an otherwise foot perfect round.
William Fox-Pitt must have been rueing the time taken over a cosmetic fence repair, during which the pair lost their mojo and Fox-Pitt, like Short, forgot the fence, although, he corrected his mistake at the cost of time penalties that dropped him from the top spot to unlucky 13th.
Michael Jung made an expensive error of judgement and ended up floundering in the water, his first fall at an international competition since 2010. He is also in physical pain as Fischerrocana landed on his leg.
To offset these, we do of course have the opposing tales of delight and joy. So far at Burghley some of these are anyone who is in the top ten but particularly Tim and Jonelle Price who could even hit the record books as a husband and wife one and two! Also, Christopher Burton, who has both his rides in the top five, an impressive achievement.
American Lynn Symansky achieved the lifetime ambition of competing in the UK at Burghley and jumping a clear cross-country round with her OTTB (off the track thoroughbred, as I learnt this week) Donner.
British first-timer Charlotte Brear jumped clear on the lovely, honest and willing Manor Missile, a half-bred shire and an unlikely four-star candidate in modern eventing. Brear is also one a few non-professional riders in the field and Manor Missile is her only horse.
And of course Michael Jung who, as he planned after his first mishap, went to the top of the leaderboard after a fabulous round, if two seconds too slow, aboard his reliable partner Sam, with whom he won his first event in 2006 and subsequently won World (2010), European (2011) and Olympic titles (2012).
The pair has in fact achieved 20 first places together on their journey to Burghley. Can they make it 21?
Image: Tim Price and Ringwood Sky Boy during the cross country at the Land Rover Burghley Horse Trials, sixth and final leg of the FEI Classics, by Trevor Meeks, courtesy of the FEI


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Drinking a glass a night for the health benefits, tasting wines from other countries as well as other states, and experiencing each unique flavor.
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Revelstoke Mountain Resort boasts North America's greatest vertical at 1,713 meters (5,620 ft). Skiing and ski jumping are some of the popular sport activities in Revelstoke. It has gained the title of becoming an international center for ski jumping which made it a suitable place for conducting tournaments.
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Number of Trails:
Number of Lifts:4
Season: December - April
Summit Elevation: 7,299ft ft
Base Elevation: 1,679 ft
Vertical Drop: 5,620 ft
Skiable Area: 3,121 acres
Annual Snowfall: 600 in
Longest Run: 10 miles
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