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Rangers to Play First-Ever Games in Alamodome
"Big League Weekend" Coming to San Antonio in March 2013
By Corpus Christi Hooks | November 16, 2012 9:37 AM ET
SAN ANTONIO - The Alamodome has a fantastic track record of hosting major events.
Think about it. Fans from San Antonio and South Texas have enjoyed some of entertainment's great spectacles. Dramatic college football and high school playoff games. The NFL. The Final Four. An NBA All-Star Game and several Spurs championship finals. Boxing and wrestling. Countless major concerts.
In its nearly 20-year history, the Alamodome has seen just about everything... except baseball.
That changes next spring when Major League Baseball's Texas Rangers come to town for San Antonio's "Big League Weekend."
The Rangers play a two-game exhibition set against the San Diego Padres. The games are Friday, March 29, at 7:05 pm and Saturday, March 30, at 1:05 pm. Tickets go on sale to the general public at noon on Friday, November 30.
Corpus Christi Hooks fans can take advantage of a special presale beginning Friday, November 23, at noon.
Follow the links below. Your password is Hooks
March 29: Click Here | March 30: Click Here
The event was announced this morning at a press conference on the floor of the Alamodome. In attendance were officials from the Rangers, Padres, Ryan Sanders Baseball, the San Antonio Missions, the City of San Antonio and Bexar County.
"We're excited about the opportunity to be playing in the first-ever baseball games in the Alamodome," said Rangers President and CEO Nolan Ryan. "We appreciate the support of everyone involved from the city, the Missions and the Padres as well."
Turning the Alamodome into a baseball facility is no easy task. Ryan Sanders Baseball, the group charged with running the event, has collaborated with AstroTurf - the official synthetic turf supplier of Major League Baseball - to build a 133,000 square-foot custom field for the Alamodome floor. AstroTurf is obviously rooted in Texas baseball, as the brand is named after the site of its initial use at the Houston Astrodome.
"AstroTurf is thrilled to see baseball in the Alamodome," said Bryan Peeples, President of AstroTurf. "We are so proud to be involved with these two superb ball clubs and to be a part of this historic event."
Other modifications include custom fencing, walls, padding, netting, dugouts, bullpens, foul poles and more.
"There's a lot of work that needs to be done before March," said Ryan Sanders CEO Reid Ryan, "but we've got a great team in place and have the right partners to get there. This obviously can't happen without the Rangers and Padres, but ultimately it was Dave Elmore and the San Antonio Missions that made this a reality. This market has been the Missions' for over 100 years and we are grateful for Dave's willingness to partner on the event. In appreciation, we've put together a lot of great offers for their fans."
First and foremost, Missions season-ticket holders and suite holders will have the first opportunity to purchase tickets for the event. Big League Weekend and the Missions will also create programs to benefit local charities.
"This event is going to be a real treat for baseball fans in San Antonio and the surrounding areas," said San Antonio Missions President, Burl Yarbrough. "We are very pleased to help play a part in bringing the 'Big League Weekend' to the Alamodome. This will be the perfect way to showcase Major League Baseball with the Texas Rangers and San Diego Padres and to get everybody ready for the 2013 regular season."
The Padres, who play in the National League West Division, are the parent club of the Missions. "We are looking forward to having the opportunity of playing in the Alamodome," said Padres Executive Vice President/ General Manager Josh Byrnes. "Our organization has strong ties to San Antonio and we are honored to participate in such a unique baseball event."
"Playing against the Rangers in San Antonio in this unique venue will be a fantastic opportunity as we prepare for Opening Day," said Padres Manager Bud Black. "Many of our players taking part in that weekend will be guys who were on the 2007 and 2011 Texas League Championship teams and we'll be looking forward to Missions' fans having a chance to see them, and all of our 2013 squad, playing in San Antonio."
With the configuration for baseball, the Alamodome will seat over 50,000 people. A sell-out or standing-room-only crowd would create the possibility of the largest crowd ever to watch a baseball game in Texas.
"We want as many people as possible to be able to witness this event," Reid Ryan stated. "Although these games will feature two major league teams, we made every effort to keep tickets affordable and a great value for baseball fans in San Antonio and for those coming in from out of town." Ticket prices will range from $10-$55, with an average ticket price of just over $25. "With over 50% of the tickets priced at $15 or under, this is going to be a great value for a lot of people," Ryan added.
Ryan Sanders Baseball and the City of San Antonio have agreed to a one-year deal with two, two-year extensions. In addition to the two major league games in 2013, officials said there would be other events surrounding the games at the Alamodome and throughout San Antonio over the weekend.
Specific events, dates and times will be announced at a later date.
ABOUT THE RANGERS - The Texas Rangers Baseball Club has grown to be one of the most successful organizations in all professional sports under the ownership group Rangers Baseball Express, which took over in August 2010. Over the past three seasons the Rangers have the third-highest winning percentage and win total in all of Major League Baseball, and only the world champion San Francisco Giants have more playoff victories during that time. In 2012 the team set a franchise record with 3.46 million fans and also established club records with 38 sellouts and 59 crowds in excess of 40,000.
ABOUT THE PADRES - The Padres, who play in the National League West Division, are the parent club of the Missions. After a slow start to the 2012 season, the Padres were one of the better teams in baseball, producing a 42-33 record after the All-Star break. They were led by third baseman Chase Headley, who posted a .286 average with a career-high 31 home runs and a National League leading 115 RBI. Headley was the Texas League Player of the Year when he led the Missions and the circuit with a .330 average in 2007.
BASEBALL IN A FOOTBALL VENUE - The Los Angeles Dodgers hosted the Boston Red Sox at the L.A. Coliseum on March 29, 2008. The game was held to celebrate the Dodgers' 50th anniversary in Los Angeles. The exhibition game marked the return of the Dodgers to their original Los Angeles home, as the franchise played there from 1958-1961 during the construction of Dodger Stadium. More than 90,000 tickets to the game sold out almost immediately in early February, prompting the Dodgers to open standing-room-only space. The total attendance was 115,300, the largest ever to watch a baseball game. The distance from home to the left field foul pole was only 201 feet and had a 60-foot high screen, while right field was 440 feet from home plate. Boston won 7-4.
BIG BASEBALL CROWDS IN TEXAS HISTORY - If you're looking for something to compare the uniqueness of Big League Weekend to in the Lone Star State, you need to go back over 60 years ago to a game hosted by the Dallas Eagles. The Eagles set a Texas League attendance record when they drew 53,578 fans to their opener in the Cotton Bowl. The huge turnout was due in part to a brilliant promotion devised by Eagles owner Dick Burnett. An all-star old-timers team including Dizzy Dean, Tris Speaker and Ty Cobb actually took the field wearing Eagles uniforms. After pitching to one batter Dean and the other greats left the field and were replaced by the real Eagles.
PLAYING SURFACE: Custom convertible AstroTurf 3D-52 field (133,000 sq. ft.)
ROOF /CATWALK HEIGHT: Range from 165' - 190' (Tropicana Field - Range from 99' - 194')
LIGHTING: 300 foot candle (MLB standards 250/200)
San Antonio
- Third fastest-growing city in America and the seventh largest U.S. city.
- Travel + Leisure named San Antonio as one of America's favorite cities. More than 26 million people visit San Antonio each year.
- The most affordable city in America, for both those who live here and those who visit.
- One of the top 25 cities in the country for the arts, according to American Style magazine. Travel Smart magazine ranks San Antonio as one of the most culturally fascinating cities in the U.S.
*The Rangers have played 4 exhibition games in San Antonio since coming to Texas in 1972:
April 4-5, 1973 vs. Cleveland
April 5, 1977 vs. Houston
April 3, 1978 vs. Houston
Rangers vs. Padres All-Time Series Results (Regular Season)
• 1997 Home: 2-0 | Road: 0-2 | Total: 2-2
• 1998 Home: 2-1 | Road: --- | Total: 2-1
• 1999 Home: --- | Road: 1-2 | Total: 1-2
• 2000 Home: 2-1 | Road: --- | Total: 2-1
• 2001 Home: --- | Road: 1-2 | Total: 1-2
• 2006 Home: 1-2 | Road: --- | Total: 1-2
• 2009 Home: 1-2 | Road: --- | Total: 1-2
• 2012 Home: 0-0 | Road: 3-0 | Total: 3-0
• Totals: 8-6 | 5-6 | 13-12
*Teams also play 2-4 times every spring in the Cactus League.
Texas Rangers
- The franchise was established in 1961 as the Washington Senators, an expansion team awarded to Washington, D.C., after the city's first ballclub, the original Washington Senators, moved to Minnesota and became the Twins. After the 1971 season, the new Senators moved to Arlington, Texas, and debuted as the Rangers the following spring.
- Colors: Red, White, and Blue
- Spring Training facility: Surprise Stadium, Surprise AZ
- Major League Titles
- AL Pennants (2) -- 2010, 2011
- West Division titles (5) -- 1996, 1998, 1999, 2010, 2011
- Wild card berths (1) -- 2012
- Retired numbers:
- 26 - Johnny Oates
- 34 - Nolan Ryan
- 42 - Jackie Robinson
- Rangers Captain is the mascot for the Texas Rangers. Introduced in 2002, he is a palomino-style horse, dressed in the team's uniform. He wears the uniform number "72" in honor of 1972, the year the Rangers relocated to Arlington.
- Minor League Affiliates
- AAA - Round Rock Express (Pacific Coast League) Round Rock, TX
- AA - Frisco RoughRiders (Texas League) Frisco, TX
- Advanced A - Myrtle Beach Pelicans (Carolina League) Myrtle Beach, SC
- A - Hickory Crawdads (South Atlantic League) Hickory, NC
- Short Season A - Spokane Indians (Northwest League) Spokane, WA
- Rookie - AZL Rangers (Arizona League) Surprise, AZ
- Rookie - DSL Rangers (Dominican Summer League) Dominican Republic
- The Rangers hosted the San Francisco Giants in the first regular season interleague game in major league history on June 12, 1997.
- Highest Season Attendance: 3,460,280 (2012)
- Highest Average per Game Attendance: 42,720 (2012)
- The Ballpark in Arlington has a capacity of 48,114, however its largest crowd ever was 52,419 fans for game three of the 2010 World Series between the Rangers and San Francisco Giants.
San Diego Padres
- Founded: 1969 (National League expansion)
- Current uniform colors: Dark blue, Sand, and White
- Nicknames: The Friars, the "Pads" (pronounced as "Pods")
- Spring training facility: Peoria Sports Complex, Peoria, AZ
- Major league titles
- NL Pennants (2) -- 1998, 1984
- West Division titles (5) -- 2006, 2005, 1998, 1996, 1984
- Wild card berths (0) -- None
- Retired Numbers:
- 6 - Steve Garvey
- 19 - Tony Gwynn
- 31 - Dave Winfield
- 35 - Randy Jones
- 51 - Trevor Hoffman
- 42 - Jackie Robinson
- Mascot: The "Swinging Friar"
- Minor League Affiliates
- AAA - Tucson Padres (Pacific Coast League) Tucson, AZ
- AA - San Antonio Missions (Texas League) San Antonio, TX
- Advanced A - Lake Elsinore Storm (California League) Lake Elsinore, CA
- A - Fort Wayne TinCaps (Midwest League) Fort Wayne, IN
- Short Season A - Eugene Emeralds (Northwest League) Eugene, OR
- Rookie - AZL Padres (Arizona League) Peoria, AZ
- Rookie - DSL Padres (Dominican Summer League) Dominican Republic
- Starting in 1996 the Padres became the first national sports team to have an annual military appreciation event.
- Highest Season Attendance: 3,016,752 (2004)
- Highest Average/Game Attendance: 37,244 (2004)
Website: www.bigleagueweekend.com
Facebook: www.facebook.com/SABigLeagueWeekend
Twitter: www.twitter.com/SABigLeagueWknd
This story was not subject to the approval of the National Association of Professional Baseball Leagues or its clubs.View More


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What is the definition of chanced?
Think of the word as being a shortened way of saying "came upon or found by chance". I could say "I discovered the solution." This implies that I was actively looki…ng for the solution, possibly in a research setting. I could say "I chanced upon the solution." This implies that the solution somehow came to me, or was given to me, without a lot of effort on my part. (MORE)

subset: commoncrawl


text:
Subject: Re: [htdig] Quick Question about using htdig
From: Torsten Neuer (email@example.com)
Date: Fri Jan 07 2000 - 11:47:30 PST
Geoff Hutchison wrote:
> At 11:05 AM -0500 1/7/00, Deepak Vaidya wrote:
> >The problem I am having is the list archives are password proctected and
> >using authorization: username:password did not work was planned. What
> >could I be doing wrong.
> How is the password protection implemented? If it's via server-side
> passwords (e.g. the browser throws up a dialog box) this should work.
> If it's via some sort of CGI, it's not easy to do--you'll have to
> figure out some way to authenticate the htdig robot to the CGI.
Hmm.. wasn't it that Ht://Dig was only capable of doing Basic
so far? If the Digest authentication method is used, it might be the
for barfing on that.
I might be wrong with that, however ;-)
-- InWise - Wirtschaftlich-Wissenschaftlicher Internet Service GmbH WaldhofstraÔe 14 Tel: +49-4101-403605 D-25474 Ellerbek Fax: +49-4101-403606 E-Mail: email@example.com Internet: http://www.inwise.de
------------------------------------ To unsubscribe from the htdig mailing list, send a message to firstname.lastname@example.com You will receive a message to confirm this.
This archive was generated by hypermail 2b28 : Fri Jan 07 2000 - 12:04:33 PST


text:
Dewitt Plant Relocates 72 Jobs To Mexico
A Dewitt business says it will relocate 72 jobs to Monterrey, Mexico by year's end.
Nidec -Kinetek's Advanced Motors and Drives plant near Hancock International Airport announced the non-union hourly positions will be phased out over the next three to six months. The plant designs and manufactures much of what goes into specialty vehicles like lift trucks, golf carts, utility vehicles and others. The company says its restructuring is based on the need to provide service to global customers on six continents


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Saturday, March 16, 2013
Old Photographs of Life in Korea More Than 100 Years Ago
Labels: architecture & construction, landscape, life
2 comments:
Hey, where are the citations for these photos??ReplyDelete
I don't know how you came across them but this is sloppy work.
Source: Willard Dickerman Straight and Early U.S.-Korea Diplomatic Relations Photograph Collection at the Cornell University Library.
Link: http://www.flickr.com/photos/cornelluniversitylibrary/with/4095401181/#photo_4095401181
I maintain a huge collection. Most of the following Korean pictures are in public domain except the ones with the Creative Commons license.ReplyDelete
Source: http://gongu.copyright.or.kr/index.do
Subscribe to: Post Comments (Atom)


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My tummy hurts. Ergo, there is no god.
This argument may be absurd but it is not intended as a reductio ad absurdum. Although a very simplistic form, this enthymeme encapsulates one of the primary atheological arguments — the argument from evil.
The structure of the argument becomes more obvious once we include the unstated premises:
1. Tummy aches are a form of harm being done to the physical and/or psychological well-being of a sentient creature.
2. Harm is evil.
3. God–an omniscient, wholly good being–would prevent evil.
4. God did not prevent my tummy ache
5. Ergo, there is no god.
This argument is a type known as the evidential problem of evil, the primary remaining form since the logical problem of evil has been solved.*
The evidential problem of evil is the problem of determining whether the existence of evil constitutes evidence against the existence of God. As the Internet Encyclopedia of Philosophy explains, "Evidential arguments purport to show that evil counts against theism in the sense that the existence of evil lowers the probability that God exists."
One of the strongest and most famous examples of this type of argument can be found in William Rowe's 1979 paper, "The Problem of Evil and Some Varieties of Atheism." Rowe outlines his argument as follows:
1. There exist instances of intense suffering which an omnipotent, omniscient being could have prevented without thereby losing some greater good or permitting some evil equally bad or worse.
2. An omniscient, wholly good being would prevent the occurrence of any intense suffering it could, unless it could not do so without thereby losing some greater good or permitting some evil equally bad or worse.
3. (Therefore) There does not exist an omnipotent, omniscient, wholly good being. (Rowe 1979: 336)
I contend that Rowe's argument is precisely the same as my Tummy Ache formulation.
Not so, you say, for Rowe has added the qualifier intense suffering. To which I'd respond: My tummy hurts intensely.
Actually, I would say that my construction is more solid. By sneaking in the adjective "intense" Rowe attempts to give the premise an emotional resonance, but merely succeeds in weakening his premise. The inclusion of the adjective shifts the premise onto subjective ground. After all, how does "intense" suffering differ in any meaningful sense from mere suffering?
Let's imagine that all suffering could be converted to a single unit of measurement, say Tummy Aches (TA). Let's also say that the range of suffering goes from .001 TA to 100 billion TA. At what level does suffering become "intense"? 10 TA? 100 TA? It would depend on the context. In the life of a single human, 100 TA of suffering might be considered intense. But what if we are talking about an amount that would disprove God shouldn't we consider the entire universe? Would 100 TA be a lot then? Would even 100 billion TA be a considerable amount within the vast expanse of the cosmos?
Besides, what does it matter if we are talking about 100,000 TA or merely 1 TA. If God is omnipotent then he should be able to prevent my tummy ache. For the premise to support the conclusion it should discard all qualifiers and state its point more directly: "An omniscient, wholly good being would prevent the occurrence of any suffering…"
Stated in this way, most people would abandon this Tummy Ache argument. Some would still contend, though, that an omnipotent wholly good being would indeed prevent all tummy aches and that stomach pains are indeed evidence against the existence of God. To which the proper response is to ask, "Are you omniscient?"
The reason this question is relevant is because premise #1 can only be judged by an omniscient being. When faced with the fact "Suffering occurs" we are left with the question, "Could the suffering have been prevented without losing some
greater good or permitting some evil equally bad or worse?" Only an omniscient being could know for sure, yet Rowe's premise begs the question by assuming that the answer is "yes."
Those of us that are not omniscient, however, should be hesitant to conclude this is damning evidence without knowing all the facts. By remaining agnostic about premise #1, we have no reason to believe the argument is sound. It becomes apparent that the mere existence of evil has no bearing on the probability that God exists. The evidential problem of evil is a non sequitur.
This is not to deny that evil is a problem. It is, just not a logical or evidential problem. As Alvin Plantinga contends, evil is a religious problem:
The theist may find a religious problem in evil; in the presence of his own suffering or that of someone near to him he may find it difficult to maintain what he takes to be the proper attitude towards God. Faced with great personal suffering or misfortune, he may be tempted to rebel against God, to shake his fist in God's face, or even to give up belief in God altogether… Such a problem calls, not for philosophical enlightenment, but for pastoral care. [emphasis in the original]
*Most philosophers (including William Howe who is mentioned later) would admit that Alvin Plantinga has solved the logical problem of evil. In his brief and masterful God, Freedom, and Evil, Plantinga concludes that it is at least possible that God could not have created a world with moral good but no moral evil.


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Christopher Burghardt Photographer
Salty PhilipClothing Designer Female Dublin, Dublin, Ireland
My Website: Salty PhilipMy MM URL: http://www.modelmayhem.com/Lynnmacpherson
Mayhem # 2224220
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Contact me at firstname.lastname@example.com if you need a loan of clothes for a shoot or Catwalk. OR
A stylist to organise a shoot - my rates are very reasonable.
New models looking for tfp are always welcome :)
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text:
Evaluating how and what waste is produced in your business may uncover costly inefficiencies. For a business, saving money is the bottom line. If a business reduces overall costs by separating materials, such as cardboard from trash, a recycling program can be a cost-effective and responsible solution. Supporting a GREEN business will enhance your business image as well. And if these are not enough reasons to recycle, you should also know that commercial recycling is required by law.
With AB 341, the State of California now requires that businesses that generate 34 cubic yards or more of waste arrange for recycling services. In Stockton, up to 4 cubic yard of recycling services are free of charge.
Stockton Municipal Code 8.04.070 requires that recyclable materials and green waste be separated from other solid waste for collection.
Pay for one 4-cubic-yard container:
Or pay for one 2-cubic-yard container and receive a 2-cubic-yard recycable material container free.
To learn more, download our Commercial Recycling Guide HERE
For recycling tips, news, events, and resources visit:
Stockton Municipal Code 8.04.070 Placement of waste in containers—Separation of recyclable materials
State of California Business Waste Reduction web page
This City of Stockton web page last reviewed on --- 4/20/2017


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So copy editors are complex people. You do a tough job,
under tough conditions, for modest return and respect.
Yet somehow it is still wonderful.
It is stimulating. It is creative. It is exciting. It is intellectually challenging. And it is powerful.
Perhaps the most famous editor of all time, Max Perkins, the Scribner's genius who masterminded the work of Scott Fitzgerald, Ernest Hemingway, Thomas Wolfe, Marjorie Kinnan Rawlings and Ring Lardner, among many others, once told his wife Louise that he wanted to be an editor because you could be "a little dwarf on the shoulder of a great general advising him what to do and what not to do, without anyone's noticing."
The legendary New Yorker editor William Shawn ran his magazine through some magical blend of creative listening and inspired vision. But he was a copyeditor at heart.
Shawn once edited a piece by writer Philip Hamburger. It was late, around 10 at night. They came to the end of the piece, in which Hamburger described shaking hands with Argentina's Evita Peron and finding her hand "stone cold."
Shawn, Hamburger later wrote, "became agitated."
"Stone cold," he said, "requires a hyphen."
"I became agitated. 'Put a hyphen there and you spoil the ending,' I said. 'That hyphen would be ruinous.'
"Perhaps you had better sit outside my office and cool off," he said. "I'll go on with my other work."
"I took a seat outside his office. From time to time, he would stick his head out and say, "Have you changed your mind?
"No hyphen," I replied. "Absolutely no hyphen." I was quite worked up over the hyphen.
"Sometime around two-thirty in the morning, Shawn said, wearily, "All right. No hyphen."
"But you are wrong."
(Informal discussion of when participants decided to become editors)
What I learned more than anything else from my first editing jobs was the importance of respect, of the gentle, careful, selective exercising of the power of the editor, to respect the writers, the readers and, importantly, the words themselves -- to appreciate the profound lesson that the editor's job is, most of all, to help others do their jobs, to exercise a kind of firm, thoughtful, respectful quality control in applying the awesome power that comes to the one who is last to touch the copy.
And I enjoyed that feeling: the power and fun of the editor's role.
I visit many newsrooms, and I don't have to tell you that these are troubled times. Newspapers have been on the defensive for some time -- written off as old and out of touch, no longer the hot places to work, and now facing downsizing and cutbacks and resource squeezes even as competitors, especially the electronic species, close in.
I can't predict the future any better than anyone else, but here is something on which I would bet the mortgage:
Editors will save journalism.
I don't know about formats -- whether paper will survive, whether the Internet will fatefully lure away the coming generations. But I know this:
People have a primal need for information. On the famous hierarchy, it ranks just below food, water and shelter. From the early days when cave people learned from word of mouth where the bears were and which berries would kill you, we have depended on information for survival -- and we still do. Information is power -- social, cultural, economic, political, personal power. Information is valuable -- there will always be a market for news -- current, important, useful information.
But we are, as we all know, overrun with information today. Today's consumers have access to volumes of information unimaginable just 10 years ago -- electronic storage and delivery gives us access, almost literally, to all the information in the world. And more and more is hemhorraging onto the Internet every nanosecond.
Where editors come in is obvious. Editors specialize not in information collection, not in information processing, not in information distribution, but in information assessment. It is editors who, exercising their professional judgment, can test information for all-important reliability and relevance; can efficiently select, sort, arrange and present information in the most useful, accessible and effective ways; and can serve both individual consumers and the larger interests of society by policing the integrity of the information stream.
You editors may be dwarfs on the shoulders of the general, as Max Perkins said, acting with little recognition -- but now, more than ever, in today's chaotic information age, the ability to separate good information from garbage will be a touchstone quality of successful media. And that is what editors do, from mega-decisions involving the integrity of sourcing to the last call on whether "coroner" is a title that should be capitalized or an occupational descriptor that shouldn't be. You Southerners may recall the legendary racecar driver Junior Johnson. After he gave up racing himself and became an owner, he was observed one day down working in the pit crew, and someone asked why, at his stage of life, he was still doing that kind of work, and his answer was a simple and direct: "Ain't nothing too small to do right." The copyeditor's motto.
There's nothing wrong with entertainment, with info-tainment and with our eternal desire for a little gossip, a little sensationalism, a little fun. Those desires go back to cave dwellers as well. But society has always demanded that a certain, small but critical mass of its information be demonstrably reliable and trustworthy -- and it is editors more than anyone else who perform this service, and copyeditors who put the last eye on it.
That brings me to one last Max Perkins story.
"Why don't you write yourself?" Perkins once was asked by a colleague. "I have a feeling you could write so much better than most of the people who do write." "Max just stared at me for a long time," the colleague reported, "and said, 'Because I'm an editor."
Here is what the great writer Lillian Ross once said about editors:
"What most writers need is not another writer but an editor -- someone to talk to about their work, someone capable of giving guidance and help with getting in the writers' way."
You are editors, specifically copyeditors. And that brings me to why copyeditor should be one word. As two words, copy editor means editor of copy -- a task, certainly done by copyeditors but by many others, professional and otherwise.
As one word, copyeditor is an appellation, a title, a distinctive professional job descriptor that denotes and celebrates a specific, technical role in a complex news operation.
It is a credit to be a copyeditor, it is a specialty of immense importance, and we should lay claim to it as our word, our special title, for a special and indispensable role.


text:
Governor reappoints EMU president to State Hospital Finance Authority
YPSILANTI — Eastern Michigan University President Susan Martin has been reappointed to the State Hospital Finance Authority by Gov. Jennifer Granholm.
Martin, who will represent public members for a term expiring March 1, 2011, has been designated as chair of the authority.The State Hospital Finance Authority provides hospitals within the state with appropriate means to expand, enlarge and establish health care and other related facilities.
Eastern Michigan University is a public, comprehensive university that offers programs in the arts, sciences and professions. EMU prepares students with the intellectual skills and practical experiences to succeed in their career and lives, and to be better citizens.
Editor's Note: Looking for an expert source for a story? Check out EMU's Eastern Experts online at www.emich.edu/univcomm/easternexperts.
EMU Home | University Communications Home


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|BA Child Life Specialist Program
|Submitting Dean
|Dr. James Lynn
|Submitting College
|Fine & Applied Arts -- Dudley Turner x6518
|Departments Generating the Proposal
|Objection Deadline
|March 15, 2007
|Proposal Status
|Final Approval Granted
|Proposal Last Updated
|April 06, 2007 by PR Amy Sheldon
|Effective Date
|Fall 2007
|Brief Summary of Proposal
|This proposal makes changes to the BA Child Life Specialist Program reflecting the reduction in credits, from 11 to 4, in the core of the School of Family and Consumer Sciences. This follows the recommendations made by the AAFCS Accreditation board. Other courses will be added to this program to optimize the reduction in the core. These changes will not require added resources.
|Type of Proposal
|Program changes
|Graduate School Endorsement Status
|Not required
|Graduate School Endorsement Updated
|February 15, 2007 by GS Heather Blake
|Institutional Research Status
|IR Status Updated
|February 21, 2007 by IR Dolores Bezilla
|Library Status
|Library Status Updated
|February 15, 2007 by UL Joe Larose
|Distance Learning Review Committee Status
|Not required
|DLRC Status Updated
|General Education Advisory Committee Status
|Not required
|GEAC Status Updated
|February 15, 2007 by FA Dudley Turner
|Resource Requirements
|No additional resources
|Resource Requirements Updated
|February 15, 2007 by FA dean's ofc Gerry McElliott
CPS Menu


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There is a new Pampers Gifts to Grow Code. Just log in or sign up here and enter code FB1MLK21AP6PD13 to receive 10 points. Be sure to check out this post which contains several more active codes to enter into your account!
This code will be valid through 1/25/2013.
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If you find any of those codes have expired, please let us know. We will update the post to keep it current.
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The beginner's overhand shuffle, for example, is a really bad way to mix cards: about 2,500 such shuffles are need to randomize a deck of 52 cards. A magician's perfect shuffle, on the other hand, in which the cards are cut exactly in half and them perfectly interlaced, never produces randomization (see below). One of the most effective ways to get a random deck is the riffle shuffle in which the deck is cut in half and imperfectly interlaced by dropping cards one by one from either half of the deck with a probability proportional to the current sizes of the deck splits.
In 1992 Persi Diaconis (then at Harvard) and David Bayer demonstrated that, starting with a completely ordered deck, it takes seven riffle shuffles to produce randomization.1 Any more than this and there's no significant increase in the randomness; any less and the shuffle is far from random. In fact, not only are five or six riffles not enough to randomize, there are some configurations of cards that are impossible to reach in this number of shuffles! To understand this, suppose the starting order of the cards is marked 1 to 52, top to bottom. After one shuffle, only configurations with two or fewer rising sequences are possible. A rising sequence is a maximal increasing sequential ordering of cards that appear in the deck (with other cards possibly interspersed) as it is run through from top to bottom. For instance, in an eight-card deck, 12345678 is the ordered deck and it has one rising sequence. After one shuffle, 16237845 is a possible configuration and there are two rising sequences (the underlined numerals form one, the non-underlined numerals form the other). Clearly the rising sequences are formed when the deck is cut before the cards are interleaved in the shuffle. After two shuffles, there can be at most four rising sequences, since each of the two rising sequences from the first shuffle has a chance of being cut in the second. This pattern continues: the number of rising sequences can at most double during each shuffle. After five shuffles, there at most 32 rising sequences. But the reversed deck, numbered 52 down to 1, has 52 rising sequences. Thus, this is one (of many) arrangements that are unattainable in five riffle shuffles. Interestingly, Diaconis and other researchers have also found that decks can undergo sudden changes in their degree of randomness; after six riffle shuffles, a deck is still visibly ordered, but this order vanishes one shuffle later.
Perfect shuffles do the exact opposite of randomizing: they preserve order at every stage. There are two kinds of perfect shuffles. The out-shuffle is one in which the top card stays on top; the in-shuffle is one in which the top card moves to the second position of the deck. Amazingly, eight perfect out-shuffles restore the deck to its original order! Magicians use combinations of out and in shuffles to perform a variety of baffling tricks and to control the position of any given card in a deck. How could you make the top card (call it position 0) go to position n? Easy: write n in binary (base 2), read the 0's and 1's from left to right, perform an out-shuffle for a 0 and an in-shuffle for a 1, and, as if my magic, the top card will have materialized at position n.
Related category GAMES AND PUZZLES
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If You're Gonna 'Hook Up' With Someone, Close the Blinds!
So a guy and a girl hook up at a party and decide to take it upstairs where nobody will even know they're there. Well, nobody except the crown of party-goers who can see through the uncovered window into the well lit room….
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I've had my eye on him for a but now. Only 20 but has scored a lot in the Scottish league and in the champions league against decent opposition.
Surely it would be worth signing him even if we loan him back to celtic for a season. He's got pace, has played a decent amount of Championship and Scottish football while maintaining a healthy strike rate and has 4 goals in 4 for France u21s all at the age of 20. He's going to be snapped up by a top club in the next couple of years. I can see him and Rashford battling it out for years to come for that lone striker role.


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"Xbox One X will not do well," says analyst
Yesterday at 9:50 am | 8 Comments
Publisher Kalypso Media and developer Realmforge Studios today released a new teaser video for DARK, their upcoming action-RPG for the Xbox 360® video game and entertainment system from Microsoft and Windows PC. DARK is a supernatural third-person stealth action game where players will explore the shadowy world of a vampire anti-hero as he fights against the forces of the GeoForge corporation in an attempt to shed light to their dark secrets.
Looks pretty nifty. Are you down for this horror themed title?


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Submit Review
Disc Reviews
Player Reviews
Posted 07-19-05
Submitted by Ranger email@example.com
Location: Wisconsin
Level: Amateur
Disc Weights: 170
Review: I bought this disc and loved it right out of the bag. It flew great for me. It was moderatly overstable and allowed for fantasic S-curves. The only complaint I have is the plastic. I play on heavily wooded courses and it didnt last very long at all. I would recommend it on an open hole, just dont hit a tree full power or it wont be the same.
Posted: 6-29-04
Submitted by email@example.com
The Millennium EXP1 is my absolute favorite disk for the sidearm drive. It is effectively the only disk I can sidearm as hard as I possibly can, and still get the ideal S-curve. (Most other disks will take a hard dive to the left when thrown with all of my force; I attribute this to the EXP1's very sharp cutting edge.) The disk is very useable for the normal backhand throw as well. Though I agree with previous reviewers, this disk isn't for beginners--I can think of no better for the somewhat experienced player looking to learn the sidearm. I have yet to see a thinner disk, though I expect they exist.
Posted: 06-20-02
Submitted by Chris
The Millennium EXP1 (Experimental Driver) disc is an extremely overstable driver. By trading my shark (It wasn't much different than my Teebird, so I ditched it), i carry an exp1 now. In order to use the exp1, one needs a well trained arm. It is definitely not for beginners. A lot of snap and an anhyzer-like throw is needed to prevent it from prematurely fading sharply. The exp1 is a wicked s-curve disc due to its overstability. Mine is about 172g and can travel very far, however, if not thrown correctly, the super fast fade will veer the disc off target and take distance off the drive. I recommend keeping it low to the ground, and not to be afraid of giving it a quick anhyzer-style throw. The disc is very durable. Many knocks against various objects, but very few marks. This disc has very little glide, but if you throw it well, it will go far.
Posted: 7-08-01
By Blake Takkunen - the Webmaster - <email@example.com>
My Review:
The EXP1 is a fast, very overstable driver. It's profile looks very similar to that of a Banshee, they might be the same mold. It also flies quite similar to a Banshee. Quite overstable, the EXP1 will hold a tight left curve very well and is an exceptional disc into the wind. Its resistance to turnover could be compared to that of the Banshee and a heavy X2. The EXP1 has a strong left fade and will "bite" the curve well without flattening out too much which is a problem I had with the X2. This disc is quite fast, faster than an Eagle or Teebird but it does not have exceptionally good glide. It might be my longest disc into a headwind or with a left to right crosswind with the exception of possibly a Firebird but I prefer the line the EXP1 holds. I would compare the EXP1 to a KC Firebird similarly to the comparison of an Eagle to a Teebird. The EXP1 has less resistence and greater low speed fade. I feel a bit more accurate with an X2 and KC Firebird in windy situations and get similar distances with all three but I feel that the EXP1 is better suited to long left-fade holes than the others. This disc is not beginner friendly.
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Free Financial Review Every Friday
Ren & Associates/LPL Finacial
Event Details
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*Securities offered through LPL Financial. Member FINRA/SIPC.


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Now i know New Moon is out already but heres a song i thought we could use: Nelly- Just A Dream(i know it wasn't out yet) But if you change it from a guys perspective to a girls perspective that song could play when edward decides to leave bella. :( well thats just what i thought leave comments so i could get other suggestions!
21:33, November 23, 2010 (UTC)You.Got.Food.In.My.Hair tutter23


text: Design Collaborative: Straight A's Inspire, Allsteel's new seating line, garners high marks when it comes to comfort, durability, aesthetics and value. * required fields From* To* Message cancel The aesthetics incorporated into the design of higher education facilities are more important than ever before. Details small and large blend to create environments that can help sell students, faculty and staff on making an enrollment or employment decision. Gone are the days when the majority of students gave little thought to materials, amenities or furniture when evaluating the facilities they encounter on a daily basis. And that is where Inspire—a new seating line by Allsteel Inc.—comes into the picture. Created in partnership with designer Bruce Fifield, Design Continuum in Milan, Inspire meets the needs of facility personnel, staff and students in multiple ways. "We have been in the higher education market for some time and we identified a need for a new seating line to address what we were hearing from our clients," explains D.J. Heil, director, product management for Allsteel. "Our clients told us that they were looking for something new and different from what was available." Members of the design team traveled to 25 colleges and universities of varying sizes located around the country. This research, coupled with other analysis, confirmed that designers and their clients were looking for a seating line that was attractive, comfortable, durable and sustainable. "Our team members learned that there was a gap in the market when it came to comfortable and attractive seating for higher education facilities," says Heil. "In particular, mature students who are returning to school in greater numbers want seating where comfort is maximized. Many of these individuals come from corporate settings where they are used to seating that is very different from what is found on many college and university campuses." Comfort, however, was only part of the equation. Heil says that budget, durability and sustainability were also equally important. The decision to partner with Fifield was easy, according to Heil, based on the collaboration between Allsteel and the designer on the Acuity collection. "Bruce understands our culture … our commitment … and brings great ideas to the table regarding product design," he says. The design team began with the premise that less is more. That is, higher education clients see products with fewer pieces as more advantageous because there are fewer components to break or wear out. This plays out in a number of the line's features, starting with the comfort factor. The engineering team developed TriFit, a trio of motion technologies that are incorporated into the seat and back and automatically adjust as the user moves. Rather than sitting in a chair for an hour or more that is rigid, Inspire's design moves with the body to support good posture. For example, the automatic recline provides good lumbar support, and the built-in dampers result in a seat-suspension system that adapts to the user when they first sit in the chair and that moves with them thereafter. "We built upon the lessons we learned with Acuity," notes Fifield. "The TriFit technology is only one piece of a larger equation." The other pieces, according to Fifield, include the rubber-based, non-mechanical back pivot, a distinctive seat with a waterfall edge to support users of all shapes and sizes, and a range of color and customization options. "We spent extensive time on the seat," says Fifield. "We settled on a perforated pattern, which allows moisture and heat to pass through. The chevron-shaped cutout motif speaks to the distinctive properties in the line but it is also integral to achieving the flexibility of the seat and for reducing pressure for the user." Inspire is available in an armless version, as well as with arms (including a flip-up or flip-up-and-fold tablet arm). The welded steel frame is available in silver or black, and base styles include a four-leg stacking, sled or five-star base with casters for workplace seating. Two stool versions, including an adjustable height model, are available for café or e-mail touchdown settings. Both Heil and Fifield say that color is very important to creating a sense of place, and that Inspire more than makes the grade in this area. The seat back is available in eight standard colors (custom colors can also be ordered). Clients may also specify an upholstered padded back, or seat, in Allsteel's fabrics or COM. Inspire's upholstery features 100 percent antimony-free polyester and has MBDC Cradle to Cradle Silver certification. Abrasion resistance is to 100,000 double rubs and the upholstery has a standard Greenshield® water- and stain-repellant finish. Allsteel is also pursuing SCS Indoor Advantage, MBDC Cradle to Cradle and BIFMA level 2 certifications for Inspire. The ability to withstand extensive use, and occasional abuse, is evident in the line's construction. "Facility personnel and members of their design team must be able to justify purchasing decisions, especially if a product costs a little more than other options," concludes Fifield. "We designed Inspire to last 10 years or more, which makes investing in this seating line a great value. Inspire is very durable, but it also has a high aesthetic appeal, features multiple sustainable properties, and will not break the budget." Early indications show that Inspire is at the top of the class. The team at Allsteel upped the forecast for Inspire after it premiered at NeoCon based on the initial reception from current and potential customers. Janet Wiens is a freelance writer based in Memphis, TN. She was formerly a marketing manager for HNTB and now works with industry clients to address their marketing and public relations needs. She can be reached at firstname.lastname@example.com. Related Articles A Natural Disposition Design Connections Education Recap


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Based on Paul McCartney's 1962 Violin Bass, the '62 bass has delighted Hofner aficionados by replicating details of the original. For example, the "strip" machine heads, the slot-head screws on the hardware, and the two-piece neck are authentic touches that connect this instrument to an earlier time. In the Vintage '62 Höfner has created a replica of Paul's bass historically accurate enough to satisfy even the most demanding Beatles fan.
Authentic replica of the '62 model which Paul still plays live on stage today.
Original '62 neck size for sustain and playability. Also available in left-handed (L) version.
Incl. Höfner Vintage strap and case.
Vintage 62: Handmade in Germany
|2011 (1962 reissue)
|Brand New
|Original Hard
U.S. Customers can pay via credit card, or PayPal. Merchandise paid for via PayPal will be shipped to PayPal verified addresses only. Sorry, absolutely NO international credit card orders or international PayPal payments will be accepted. Overseas customers can pay via Bank Wire Transfer ONLY. Merchandise paid for with Bank Wire transfer will be shipped upon written verification of funds from our bank. (approx 7-10 business days) Bank Wire Transfer fee's & all shipping fee's additional.
We ship all over the world and beyond!!!! BRING IT!!
We offer a 24 hour approval period once merchandise is delivered.


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Polar Bears Past Bedtime (1998)
by Mary Pope Osborne
No current Talk conversations about this book.
This is a early chapter book that tells the adventures of a brother and sister who are taken on incredible journeys by a Master Librarian. This book is an informational text and a fantasy text. It tells the story of two siblings who are woken up by an owl and taken to their magic tree house where they are transported to the Arctic. While in the Arctic they meet a polar bear and learn many facts about the land they are in and the animals and people who live there.
Not a bad end to that particular story line. I had fun with the riddles in this set, although this last one was harder because it wasn't easily guessed before getting into the story.
I liked the book "Polar Bears Past Bedtime". One aspect I liked about this book was the writing. The writing was very descriptive and flowed really well. "The snowdrifts looked like giant white sculptures as the sun slipped behind the frozen hills. Then a full orange moon rose in the sky." Another aspect I liked about this book was the few illustrations it had. The illustrations accurately portrayed what Jack and Annie were doing. The big idea of this book is to allow for adventure. Jack and Annie go on many adventures throughout the night.
The children's book, Polar Bears Past Bedtime taught me a lot about the arctic. The Magic Tree House series has very educational books but these books present educational information in such a fun and engaging way for children. I also really like how at the end of the book, the author lists all the facts that you learned while reading the book.
There's always a fun adventure when it comes to the Magic Tree House series. In this book Annie and Jack go on an adventure to the Arctic! Once they arrive they meet a seal hunter who helps them through the cold tundra and educates them on everything in the arctic. Annie and Jack get separated from the seal hunter and encounter some polar bears as well as cracking ice. Will they use what they learned from the seal hunter to get back to safety or will they become polar bear dinner?
In my opinion the book "Polar Bears Past Bedtime" by Mary Pope Osborne is an engaging chapter book for young students to read. First, the plot is organized and well paced allowing students to make predictions about what will happen in the story. For example, when Jack hears an owl hooting at his window young students may be able to predict that they are going to soon go to the magic tree house for an adventure. Second, the book pushes readers to think about factual information of the arctic as well as the characteristics of the region. "The word 'igloo' means 'house' in the language of native Arctic people. The house is built with blocks of snow." This gives readers insight about the Arctic while telling certain things you may find there. The big idea of the book "Polar Bears Past Bedtime" revolves around the Arctic and teamwork to solve adventures!
Is contained in
Magic Tree House Books 9-16 by Mary Pope Osborne
Magic Tree House Collection #03: Books 9-12 by Mary Pope Osborne
Magic Tree House Books 11 & 12 by メアリー・ポープ オズボーン
Has as a reference guide/companion
References to this work on external resources.
Wikipedia in English
Amazon.com Product Description (ISBN 067988341X, Paperback)Jack and Annie are ready for their next fantasy adventure in the bestselling middle-grade series—the Magic Tree House!
It's icicle city . . .
when the Magic Tree House whisks Jack and Annie to the frozen Arctic. Luckily, a seal hunter on a dogsled lends them warm clothes. Unluckily, they get stuck on cracking ice. Will the giant polar bear save them? Or will Jack and Annie become frozen dinners?
Visit the Magic Tree House website!
(retrieved from Amazon Thu, 12 Mar 2015 18:11:46 -0400)
Their magic tree house takes Jack and Annie to the Arctic, where a polar bear leads them onto very thin ice.
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Brazil Illustrating BRICs' House of Cards?
A couple of years ago, it would have been a near laughable prediction – but the four countries comprising the vaunted bloc of emerging economies known as the BRIC's (Brazil, Russia, India, China) continue to move in the wrong direction as the new global downturn shows increasing signs of taking hold. And Brazil has the dubious distinction of being the most disappointing of the bunch, per statistics released late this week.
Brazil's Instituto Brasileiro de Geografia e Estatística unveiled third-quarter statistics that show growth tracking at just about half of its forecast expectations. IBGE noted the following on its website:
Compared to the second quarter of 2012, the GDP (Gross Domestic Product) of the third quarter grew (0.6%) in the seasonally adjusted series. The greatest highlight was agriculture and livestock farming, which grew 2.5%, followed by the industry (1.1%). Services had no change. In contrast with the third quarter of 2011, the GDP grew 0.9% and, among the economic activities, agriculture and livestock farming (3.6%) and services (1.4%) stood out. The industry fell 0.9%. In the accumulated in the four quarters ended in September 2012, the growth was of 0.9% in relation to the first four immediately previous quarters, whereas in the accumulated of the first three quarters 2012, the GDP grew 0.7% in relation to the same period in 2011. The GDP in current values reached R$ 1,098.3 billion.
Notably absent was talk of its natural resources activities, which were expected to provide a boon for the key Latin region economy. The again disappointing performance is starting to reignite concerns raised shortly before the election of Brazilian President Dilma Rousseff. Rousseff, before her more mainstream political career, was known as a pro-labor leftist, leading market-watchers to wonder publicly if she was the right person to guide a period of hot business/economic growth for a nation known to often shoot itself in the foot with poor, inflation-boosting policies. Granted, Rousseff's more activist roots from decades ago could be a red herring for her detractors, as the European Union massive debt crisis is having an impact on the economic prospects of nearly ever developed economic superpower and very well could have a lot more to do with the deteriorating strength.
-Brian Shappell, CBA, NACM staff writer
Key Indicators Expected to Reverse Negative Trend in November CMI
The latest iteration of the Credit Managers' Index showed a return to form in some key factors, and jumped almost a full point from where it languished in October. November's 55.2 reading is still shy of the high points reached back in February and March (55.8 and 56.2, respectively), but is back to the levels seen in August and September. When the reading from October fell to 54.4, there was a sense that it may have been an anomaly, and not as dangerous as it would appear. Now that assessment looks more accurate.
The most important jump was in sales, which climbed from 57.4 to 60.4. It is always encouraging to see the data cresting past 60, and this marks the best sales month since August when the reading was at 62. However, the best improvement in the favorable factors was in dollar collections, as it improved from 54.6 to 61.3. That is an impressive showing by any measure, and suggests that companies are seeing enough improvement in revenues to start catching up on their debt.
There was slightly more volatility in the unfavorable categories, causing a decline in the overall unfavorable index. Every indicator except dollar amount beyond terms, which rose from 48 to 49.9, slipped. Rejections of credit applications fell from 52 to 51.1—not a major reduction, but a signal that there are still applicants coming with less than acceptable ratings. The decline in accounts placed for collection from 53 to 51.2 was a little steeper, but is consistent with the pace set for most of the year and suggests that many companies are still trying to get back into financial shape.
-NACM staff
(Note: For more on the November CMI, check out the weekly NACM eNews release, available late Thursday afternoon, and, for full statistics and analysis, visit www.nacm.org on Friday).
EU Makes Move Against Ratings Agencies
The European Union, continuing to struggle with a debt crisis among many of its members, had a busy if not surprising week of action. In a move that smacked of killing-the-messenger, the EU put significant restrictions on how, what and when the three biggest ratings agencies in the world could publicly assess the sovereign credit ratings of its member nations.
The EU's head-turner came in the official form of a reprimand against the "Big Three" ratings agencies (Moody's Investors Service, Standard & Poor's and Fitch Ratings), all of which are based in the United States. The EU is fast-tracking legislation that restricts the timetable in which any of them could release news of sovereign credit ratings of any EU member. The regulations would also empower investors with the right to take legal action against the agencies if financial losses could be tied back to vague measures of "gross negligence" or "malpractice" on the agencies' part. Some call the move an attempt at improved transparency and competence, while others liken it to censorship.
The three credit ratings agencies were criticized heavily for their performance in ratings of both companies and countries during the run-up to the worst global recession in more than half a century. In addition, European leaders continued criticism as the agencies routinely lowered ratings of and put on warning high-debt nations including all of the PIIGS (Portugal, Ireland, Italy, Greece, and Spain)—all of which since proved to have deep-rooted fiscal issues, mind you—and, more recently, former economic powerhouse France, which saw its prestigious "Aaa" rating downgraded a step by both S&P and Moody's in 2012. EU officials allege the timing and content of such downgrades unnecessarily exacerbated problems and have made recovery significantly more difficult.
- Brian Shappell, CBA, NACM staff writer
Municipal Bankruptcy Roundup: San Bernardino, Harrisburg, Detroit
In San Bernardino, CA, the City Council has voted on budget measure that would include stopping payments to its pension program at least temporarily. Officials will submit the proposal to a judge who tasked with reviewing its Chapter 9 bankruptcy filing, as well as its eligibility, before a deadline at the end of this week. Entitlements, such as worker pension funding, are the driving force behind the California community's ongoing debt crisis. It is estimated the city has 143.3 million in unfunded pension obligations at present. Employee and retiree entitlements have become a financial scourge affecting many cities throughout the nation, and it's only expected to escalate as a result of a rapidly aging workforce.
Meanwhile, Harrisburg, PA, talk of a potential municipal bankruptcy could have legs again and may just force its creditors back to the negotiating table. Though the city has been denied Chapter 9 eligibility multiple times because of a quickly-passed state law aimed at temporarily blocking third-level cities in the state from filing for, the entire dynamic could change as said law is just days from expiring. As such, parties involved with an ill-fated trash incinerator project that has become the complete opposite of the financial windfall it was expected to be, could see a city with a bit more of power in the negotiating process without a massive obstacle in its way.
Talk of potential municipal bankruptcy has begun anew again in Detroit, as the city failed to meet certain required benchmarks set by the city to trigger some $10 million in state funding. City officials have acknowledge that it could run out of cash before year's-end and struggle mightily to meet commitments without the funding. As such, city Mayor David Bing has noted that unpaid furlough days for public employees are likely to begin soon after the 2012 holiday season. The city has been regularly mentioned among municipalities struggling the most with insolvency for several years.
-Brian Shappell, CBA, NACM staff writer
Black Friday Retail Numbers: Good, with Caveats
The first blush was generally positive, but there are lots of caveats. The sales boost that retailers expected over the Thanksgiving weekend took place, but it was not as robust as it was last year. There was some evidence that it began to fizzle before the weekend even ended.
Right now, there are mixed reviews when it comes to the front-loading of the weekend. It appears that people did as they always do—they gobbled up the bargains and the sales. However, this time the powers that be launched these sales early; so people took advantage early. The next three weeks usually represents a lull before the last-minute shoppers, generally the men, give a late boost to the season.
The overall sense is that Black Friday was about what was expected: no sense of a big breakthrough year but no sense of a 2009â€like withdrawal either. People are spending about what they spent last year, and that is neither good nor bad news. The hope that retail would surge enough to push the economy all by itself seems a faint hope at this point, but at least there is no sign of a retreat either. That passes for good news these days.
-Armada Corporate Intelligence
France Loses Top Rating with Another Agency
A strong illustration of just how bad the European debt crisis is getting, France has lost is top, "Aaa" credit rating with Moody's Investors Services, moving down one notch and maintaining a dubious "negative" outlook.
France, just over a year ago looked at as a potential debt problem-solver along with Germany, has continued to move backward. But Tuesday's downgrade marks the second in 2012 -- Standard & Poor's made a similar move. With it exposed to various risk thanks to long-time debtor nations to the south, primarily Greece, Spain and Italy, the luster has come off of the European Union's second largest economy.
Euler Hermes Chief Economist Ludovic Subran said it's going to be a tough road for most of the EU, especially France, back to a place of strong growth, and that is unlikely to occur anytime soon.
"There will be almost no growth in Europe until 2014 [because of] ineffective economic policies," Subran noted. He added that Europe is at a crossroads and nothing illustrates the precarious position more than France's growth stoppage. That would only be topped if Germany's economic growth and manufacturing activity dropped well below already disappointing recent numbers.
Moody's justified the downgrade on the following rationales:
France's long-term economic growth outlook is negatively affected by multiple structural challenges, including sustained loss of competitiveness and the long-standing rigidities of its labor, goods and service markets.
France's fiscal outlook is uncertain as a result of its deteriorating economic prospects.
The predictability of resilience to future euro area shocks is diminishing in view of the rising risks to economic growth, fiscal performance and cost of funding. France's exposure to peripheral Europe through its trade linkages and its banking system is disproportionately large, and its contingent obligations to support other euro area members have been increasing.
On the positive side, it is worth noting that France remains in a far less negative position then the previously mentioned neighbors, save Germany, and the predicted rate of business bankruptcy there is tracking below the global average. Euler Hermes statistics indicate France's business insolvency rate changes between 2011 and 2012 is tracking to finish at 3%; the Global Insolvency Index (average) for the same period is 4%. Moreover, Euler Hermes' forecast predicts a 2% between this year and 2013 for France, with a global average likely to post at 3%.
-Brian Shappell, CBA, NACM staff writer
FCIB, Dept. of Commerce Extend Partnership on Trade Finance Guide
As many of you know, FCIB has worked in partnership with the Department of Commerce on many initiatives designed to promote and advance international trade, including the development of the International Credit and Risk Management (ICRM) online course and the International Trade Finance Guide.
Earlier this month at the FCIB Global Conference held in Philadelphia, Carlos Montoulieu, Acting Deputy Assistant Secretary for Services Industries in the International Trade Administration of the U.S. Department of Commerce (DOC), officially released the 3rd edition of the Trade Finance Guide and announced that FCIB will continue to promote the Guide, including producing print copies of the Guide through the Department's partnership program.
In 2007, FCIB assisted the Commerce Department in the development of this concise guide, designed to help SMEs quickly learn how to choose the most effective and efficient credit mechanism when selling cross border. Subsequently, in recognition of its contribution to the Guide's development and promotion, FCIB was awarded a Certificate of Appreciation from the Under Secretary for International Trade. Since 2007, more than 300,000 copies have been distributed to small and medium size businesses, helping the Guide become a popular export assistance resource.
FCIB is proud to continue to promote this new Guide and FCIB is honored to support the U.S. Department of Commerce's International Trade Administration.
We are confident that this initiative will generate many new business leads for FCIB and NACM, allowing both organizations to advance their missions to assist businesses strengthen their commercial credit operations.
-Robin Schauseil, CAE, NACM President
LaRocca Joins Short list of FCIB Service Award Winners
A touch of humility goes a long way, as does a little self-deprecating humor. John LaRocca, CICP, of Hitachi Data Systems Corp., demonstrates plenty of both. He also demonstrates the kind of leadership and team-player-mentality that made him a perfect fit as the fourth ever recipient of FCIB's Service Development and Growth Award.
FCIB bestowed the well-earned distinction on a surprised LaRocca at FCIB's 23rd Annual Global Conference in Philadelphia last week. LaRocca, when asked about the achievement, quipped, "They must have run out of people to give it to." That's hardly the case.
LaRocca, who is based in California but works closely with employees at shared services centers like one in Poland as well, has served FCIB and the community of international credit professionals in a number of ways, not the least of which include serving as an expert panelist at repeated industry events like the latest Global Conference, recruiting and involving the next generation of credit professionals to get involved with FCIB. He also was cited for helping FCIB greatly on its website redesign. Still, LaRocca typically thought it best to deflect and share the attention.
"It's recognizing participation and involvement, but it's really recognizing efforts of the Hitachi Data Systems team," he said a few days after receiving the award. "While I'm being singled out, there are so many people who have contributed."
Since its inception in 2011, the award has been presented twice annually. It is designed recognize the valuable contributions volunteers are making to further grow and develop FCIB's member services and to encourage more people to serve. The first winner of the award – Mannes Westhuis, CICP, of Bierens Collection Attorneys – further described it as something that represents a win-win situation: one where the credit professional is "getting in touch with leads, customers while being socially and professionally responsible."
LaRocca said, after years of involvement in FCIB, he continues to see it as an organization that offers real and "terrific" value for those who get involved:
"It really enables people to come together. It is good to see how others are doing things and take it back to their companies. There's a terrific value in that."
Other previous winners of the Service award are Texas-based Luis Noriega, ICCE, of JPMorgan Chase Bank, and Regine Hilgers, CICP, EMEA credit controller based in Germany for Ashland Specialty Ingredients.
-Brian Shappell, CBA, NACM staff writer
Official on U.S. Trade: TPP A Priority, FTAs Unlikely
Carlos Montoulieu, of the U.S. Department of Commerce, confirmed in an interview with NACM that the Trans-Pacific Partnership (TPP) was the overwhelming priority for U.S. officials regarding trade and that there's "quite a bit of momentum" therein. That also means potential for new, bilateral Free Trade Agreements (FTAs) is scant.
Montoulieu also confirmed that a rumored Trans-Atlantic Agreement between the United States and the European Union would likely get a boost after recommendations—expected before year's end—are officially released by the High Level Working Group reporting to President Barack Obama. It's all part of the administration's continued goal of doubling exports by the end of a five-year period that ends in December 2014, one that was on track after two years but suffered setbacks during a highly partisan election year in 2012.
The purpose of the TPP is to break down trade barriers, especially in the eastern portion of the Asia-Pacific region, where manufacturing prowess and raw materials holdings are becoming more evident. It was estimated at FCIB's Global Conference this week in Philadelphia that nearly half of the $22 trillion in global economic growth between now and 2020 will be in the Asia-Pac region.
With the focus square on multi-lateral deals, the prospects for new, bilateral deals continue to fade. In fact, acting deputy assistant secretary for services industries for Commerce's International Trade Administration said he was "not aware of any that are high on the list of priorities."
"Our focus is on the TPP—there has been a lot of momentum there," Montoulieu told NACM. "It's actually sometimes easier to do a multi-lateral deal because of the mass behind it. Two nations have to be very dedicated."
Montoulieu sidestepped questions as to whether bilateral FTA's were essentially taken off the board because of the difficult and lengthy battle to get the last three—Colombia, Panama and South Korea—through to enactment, as has been widely rumored. The assertion is that a hangover effect is in play.
- Brian Shappell, CBA, NACM staff writer
Debt Crisis in Europe Officially a 'Recession'; What Now?
You can take your pick of things to worry about regarding the European Union. There is the fact that the euro zone has officially entered another recession, as there have now been two consecutive quarters of negative growth. There is also the fact that France is now sliding into the same trough that has engulfed the Spanish and Italians. The French finance minister accuses the world of "France bashing" but the numbers are what concerns people. The Italians are suggesting that public spending has to be slashed at the same time that others assert that Italy can't handle any more austerity. The German economy has stalled somewhat, the Netherlands is in recession and Finland is leading a semi-movement of nations fed up with paying.
The fate of the euro zone remains unclear though there seems no desire on the part of the Germans to see it go -- that will be a key factor. The most important issue at this stage is growth, and nobody sees a way to stimulate it without loads of outside help. The desire to bring the U.S. to the table has been miniscule up to this point but that is changing—fast.
-Armada Corporate Intelligence
Expanded Uniform Commercial Code Service Officially Launches
Several years in the making, the UCC Filing Service went fully live online this week, joining the Mechanic's Lien and Bond Services under NACM's Secured Transaction Services umbrella. The service provides the means to mitigate the risk of debtor nonpayment for businesses that sell or finance various types of personal property under UCC's Article 9, as well as those that lend the labor, materials and other services under state law. The purpose, at its simplest level, is to help creditors become a secured party as an investor, thus putting them in the best possible position to get paid. Remember: secured creditors get paid out 100% (if money is available) before unsecured creditors get one cent, per bankruptcy law. This is increasingly important in areas such as construction as the domestic economic recovery, already sputtering, is threatened by ongoing and new threats, such as gridlock in the U.S. Congress.
Powelson noted that getting involved with UCC filings is not difficult when using a service providing the know-how. He recalled a colleague in Texas who, after years of "me badgering him to protect himself," made a UCC filing about six month before a major customer filed a massive, $40 million bankruptcy. The colleague's business was paid nearly 100% of what it was owed, unlike unsecured creditors who received pennies on the dollar.
"That filing cost him $82 and took about one hour to complete," Powelson said. "With getting paid what he was owed, he joked that the program already paid for itself 'for about the next 2,200 years.' I think there are a ton of credit managers who just aren't sure about the process and perceive it as very cumbersome. The process can be somewhat easy, actually. But sometimes you've got to get crushed or really kicked in the teeth and have your boss say, 'we can't do this anymore. What could we have done to protect ourselves?' before you make the move."
- Brian Shappell, CBA, NACM staff writer
Payment in Middle East Still a Question Mark
For the second time in less than a year at an FCIB multi-day event, the topic of opportunity in the Middle East again was a hot one. And the jury once again noted there is a high level of opportunity to sell products and services that is only going to escalate in the coming years. However, it's not always so easy to get paid on deals that have been agreed upon.
FCIB 23rd Annual Global Conference Speaker Adolf Renaud, ICCE, of Tekelec Global, told attendees that he travels to the Middle East about every six or so weeks because of the amount of money that can be made in the region. Part of the reasoning is the cultural need there to slowly build the relationship and trust, not to mention that there regularly are obstacles to getting paid in any kind of timely fashion.
"If you think you can pick up the phone or send and email to get a payment, it's not going to work," Renaud said. "You have to be over there and spend time in the region. You also need to do exactly what they want...make sure you are specific and meticulous on things like invoices. It's not that they don't want to pay; it has to do with bureaucracy that has been in existence there for 50 years."
Panelist Charles Hallab, of Baker & McKenzie LLP, noted that even with an eye for these factors, payments have been a regular problem in the Middle East. One major mistake is making the assumption, albeit a reasonable one, that a high ranking official might be the most reliable to deal with in the region.
"Nonpayment, late payment, partial payment takes up a log of our time," he noted. "People come to us surprised that they're dealing with a major governmental agency or a prince and can't understand why payment is not forthcoming. Sometimes those are the worst counterparties to deal with in the Middle East. Track record is much more important than title."
-Brian Shappell, CBA, NACM staff writer
Commercial Credit Tightening on the Horizon?
FCIB's 23rd Annual Global Conference speaker John Ahearn, of Citibank, warned credit managers Tuesday that the problem with European banking debt is not just an economic issue there or even a trade headache for the United States and other exporting powerhouses; it is also a credit liquidity issue going forward on a dangerous worldwide level.
Ahearn reminded Global attendees just how much of a player European banks are in providing liquidity and capital. For example, Spanish banks are keenly important to funding a lot of businesses operating out of South America, including several emerging markets, and Germany is hooked into many parts of Central America as a credit source of massive prominence.
Moreover, many banks involved in providing such credit may have to make tough decisions of what areas and markets they want to focus on in the coming years. What that means is the potential for less liquidity or less favorable terms. It also means that businesses of various sizes that are overly dependent on one multi-national bank could find themselves scrambling to replace them should they exit that company's market.
"Banks are going to have to start making strategic decisions: What markets do I want to be in? We believe there are going to be retractions, and this is going to be global," Ahearn said. "Banks are going to pick products they're good at and exit the rest." In essence: make sure you are using multiple banks so that if the bank you do most of your business with gets out of that business, you have other options.
-Brian Shappell, CBA, NACM staff writer
Tough Road in Europe Creating New Bankruptcy Boom
The ongoing debt crisis in Europe continues to spread to the point where even the powerful German manufacturing sector is starting to take a hit. FCIB Global Conference Speaker Ludovic Subran, of Euler Hermes, noted this is likely to push bankruptcies much higher in a number of economies there.
Subran noted that projections show low growth, if any, in most European Union member economies over the next two years. As such, it leads to the question: How long can they survive these very low levels of demand? The answer for many companies simply is not very long.
"The rate of destruction of private companies is advancing," the economist told FCIB members and guests. "You have fewer and fewer companies. This includes very important links of the value chain that are disappearing...because some huge companies are going bust." He added there are many companies that rely overwhelmingly on some of these larger companies and intimated that a domino effect looms as a real and present danger.
Subran said that, by year's end, the projected increases in bankruptcies and/or other forms of business insolvencies is skyrocketing in places like Portugal (up 48% between 2011 and end of 2012), Greece and Spain (both 30%) as well as the Netherlands (25%). By contrast the average, per the Global Insolvency Index, is a 4% increase during the same period. Moreover, Subran said another 22% increase is expected in Spain between this year and 2013, with an 11% jump predicted for Italy and 10% for Greece. Granted, there are far fewer nations -- both in Europe and worldwide -- expected to outpace Euler Hermes' projected average insolvency pace through 2013 (3% increase among companies) than during the previous one-year period.
-Brian Shappell, CBA, NACM staff writer
Note: Look for more coverage this week here, through the FCIB Twitter feed (handle: FCIB_Global) and in NACM's eNews (available late Thursday afternoon).
FCIB Global Conference Kicks Off in Philadelphia
FCIB's 23rd Annual Global Conference has kicked off in Philadelphia with the topic of U.S.-based trade high on the list of priority topics. To wit, U.S. Chamber of Commerce Vice President John Murphy discussed recent trade-related victories emanating from the U.S. federal government and what needs to be at the top of the agenda going forward.
Of its big three concerns for 2011 and 2012, two have been accomplished: Congress approved the three Free Trade Agreements and, despite some argument involving the role of and/or "size of government" objections, the charter of the Export-Import Bank of the United States was reauthorized. Murphy noted both were of massive importance, as is a yet-to-be worked out legislative agreement in the U.S. Congress involving restrictions on the books regarding Russia. Russia continues to become a more open economy with its newfound accession into the World Trade Organization; however, long-standing laws on the books technically would allow Russia to discriminate against U.S. businesses until they are removed.
"The U.S. has to pass legislation so American companies can get those benefits; other nations are already benefiting from Russian's ascension," Murphy said. He added that Congress could begin tackling this issue as early as Friday, during the lame-duck session. Murphy also laid out a five-point agenda of what the Obama Administration should, in the eyes of the chamber, focus on in 2013 and beyond to continue helping U.S. businesses take advantage of growth opportunities through exporting:
Trade Promotion Authority – President Barack Obama needs to request this power, which includes the ability to negotiate Free Trade Agreements (FTAs), which every president since Franklin Roosevelt has had. The Chamber expects the president will ask for it in the second term.
Trans-Pacific Partnership – There needs to be more interest in the "Pivot to Asia" area. Nearly half of the $22 trillion in global economic growth between now and 2020 will be in the Asia-Pac region. Of late, the U.S. share of Asian imports actually fell 43% in the last decade. Lack of FTAs are part of the problem, especially in East Asia.
Trans-Atlantic Trade and Investment Pact possibility – U.S-EU commerce leads the world with $1.5 trillion in goods, services and income receipts. The High-Level Working Group sees a potential agreement, reportedly, and could recommend it in a report expected to be out before year's end. Murphy noted the barriers are low already "but volume is so large that even removing low barriers would lead to a economic impact that would be significant."
New FTAs – Brazil, Egypt, India and Indonesia all represent places of growing opportunity and are places the U.S. should target. There are significant barriers in all of these, however, which doesn't even touch on the point that getting the last three FTAs through (South Korea, Panama, Colombia) and into enactment were near-decade-long tasks.
Multilateral Trade Deals – There's new hope an International Services Agreement could be negotiated. The prospects are actually excellent that negotiations will start next year. In addition, a Trade Facilitation Agreement would speak to reforming international customers' procedures. "Time is money. Where clearance can take days, that imposes a real cost that is often higher than the actual tariffs," said Murphy. A third piece would be to expand product coverage of the Informational Technology Agreement; when the info tech agreement was last negotiated, smartphones/tablets weren't in existence. An update therein is badly needed.
-Brian Shappell, CBA, NACM staff writer.
Visa, MasterCard Settlement Receives Preliminary Approval
Despite the noisy objections of hundreds of retailers, U.S. District Judge John Gleeson granted preliminary approval this afternoon to a proposed settlement between merchants and Visa and MasterCard over interchange fees.
Final approval of the settlement still remains a long way off. The $7.2 billion deal includes a $6 billion payment to merchants and temporary reductions in interchange rates. It also allows merchants the right to pass their processing costs on to their customers via surcharge.
In court, Gleeson referred to the plaintiffs' objections as "overstated."
Stay tuned to NACM's blog and eNews for future updates.
- Jacob Barron, CICP, NACM staff writer
Merchants Make Case against Interchange Settlement
U.S. District Judge John Gleeson might rule today on giving preliminary approval to the proposed antitrust settlement in the case against Visa and MasterCard over interchange, or "swipe," fees.
Opponents to the settlement have rigorously made their case to Gleeson, and to the public, arguing that in its current state, the agreement cements Visa and MasterCard's ability to increase interchange fees at will while denying merchants the right to propose meaningful reforms.
In addition to 10 of the 19 named plaintiffs in the case opposing the settlement, 1,200 small businesses and brands have also joined the fight and urged Gleeson to deny preliminary approval. "The vocal opposition from such a substantial and diverse portion of the merchant community demonstrates just how ineffective and unacceptable this proposed settlement is," said Dave Carpenter, president and CEO of the J.D. Carpenter Companies and chairman of the National Association of Convenience Stores (NACS), which has opposed the settlement from the start. "The proposed settlement is simply a bad deal that further entrenches the anticompetitive practices of the Visa and MasterCard duopoly and denies merchants of their legal right to fight for real changes in court."
Interchange fees are currently set unilaterally by card processors like Visa and MasterCard. While the proposed settlement provides for a $6 billion payment to retailers and allows merchants to pass the fees charged on them to their customers, it does not provide for transparency in the way that the fees themselves are set. Furthermore, the settlement precludes attempts by merchants to bring similar cases at any point in the future.
Preliminary approval of the settlement would mean that supportive plaintiffs could begin to sign up merchants to participate in the deal's benefits. Gleeson has said in court that the threshold for preliminary approval is "meaningfully lower" than it will be for final approval, which could take place months down the road.
- Jacob Barron, CICP, NACM staff writer
September Exports Recover from August Slip
The trade deficit narrowed as exports jumped in September 2012, according to the U.S. Department of Commerce.
Following August, in which exports dropped to the lowest level in six months, September's figures were much more welcome, as exports rose by 3.1% to $187 billion and imports increased only 1.5%, to $228.5 billion. The trade deficit shrunk from $43.8 billion in August, revised, to $41.5 billion in September, marking a 5.1% decrease.
The service sector set a new single month record with $53 billion in exports, breaking the $52.8 billion set in August. Goods exports also set a monthly record, increasing by $5.4 billion to a high of $134 billion in September.
"Although more work remains, today's report shows that we're making historic progress toward achieving President Obama's goal of doubling our exports by the end of 2014. Total U.S. exports hit a record high in September, as did export levels of both goods and services," said Acting Commerce Secretary Rebecca Blank, referring to the newly-reelected President Obama's National Export Initiative. "Travel and tourism also continues to be a bright spot, with today's data showing year-to-date exports 8% ahead of the same period last year. These kinds of increases mean more American jobs—1.2 million jobs were supported by exports between 2009 and 2011."
Gains in goods exports were driven by increases in industrial supplies and materials ($3.4 billion), foods, feeds and beverages ($1.1 billion) and consumer goods ($0.5 billion). The increase in services exports was chalked up to bumps in travel ($0.2 billion) and other private services ($0.1 billion), which includes business, professional, technical, insurance and financial services.
- Jacob Barron, CICP, NACM staff writer
Election 2012: What Happens Now with the Economy?
After a campaign season that feels like it lasted for decades, the election is over and, essentially, nothing has changed: President Barack Obama won a second term and somewhat decisively; the House of Representatives is still firmly in the hands of the GOP: and the Senate is comfortably in the hands of the Democrats.
Does any of this really matter as far as the economy is concerned? In some respects, the election will have an impact but, in many ways, the vote only affects the big economic issues indirectly. For most of the last year, we have tirelessly tried to point out that presidents may get much of the blame or credit for what is happening in the economy, but their power is very limited. Congress is charged with decisions on taxing and spending.
The number one issue now is the impending fiscal cliff, and the latest election outcome could be either good news or very bad news. Congress now has a little less than two months to figure out what to do with the issue or they will essentially plunge the U.S. back into a recession that could last for a solid year. The betting is that they do something, but the details are very murky.
On the positive side, this is the Congress that will exists next year and that makes it far less of a lame duck than had been expected. If the Senate had gone to the GOP, there may have been a stronger temptation to stall and force the next Congress to deal with the mess. Now, the same people will be in charge next year as are in charge now and they have to find a solution or take the blame.
The negative side is that this is the same Congress that has been incapable of making a decision on this or any other debt/deficit issue, and there is possibility of more acrimony and hostility than before. Democrats are riding a high and may not feel the need to compromise. The GOP is feeling frustrated and may not be willing to back off either. The few moderates left in Congress have almost no power and influence as most of the new players are more ideologically motivated than the people they replaced.
-Armada Corporate Intelligence
Panama's Shine Continues to Build with Ratings Upgrade
Panama's rise in prominence continues to catch the eyes of the business and investment worlds. The latest to take note, and take action, was Moody's Investment Services.
NACM has noted previously Panama's commitment to massively expanding its well-known and oft-used canal as well as its continued work to break down inter-governmental trade barriers has helped in positioning the small Latin American nation as increasingly prominent. Moody's Investment Services listed the same among many reasons it raised the government's credit rating Monday.
"Panama's economy has grown at an average rate of 7.3% during the past 10 years, the highest rate of growth in Latin America and among the highest in the world. Despite weakening external conditions, Panama continued to show remarkable economic dynamism in the first half of 2012," Moody's said. "Though recent growth rates are not sustainable, medium-term growth prospects remain strong thanks to the expansion of the Panama Canal, the Martinelli administration's ambitious infrastructure investment plans and the recent ratification of the free trade agreement by the U.S. Congress." Moody's added that newfound commitment by Panamanian officials toward gold and copper mining also make the nation attractive from a credit and investment point of view.
This comes less than two months on the heels of the Commerce Department noting that, among major export markets, no nation has seen a larger rise in the purchase of U.S. goods in recent years. To wit, the 36.3% increase since 2009 (through September) bested the second faster riser (Turkey) by nearly 8 percentage points.
Key to watch in the coming months and years will be something else that has been already been on expert market-watchers' radar: whether the government there can manage growth responsibly and avoid creating troubling fiscal imbalances for the medium- and long-term. It's something that not-too-distant neighbor Brazil, despite its hot status of recent years, has once again seemed to fail in mastering.
-Brian Shappell, CBA, NACM staff writer
Credit Managers' Index for October Falls
The October Credit Managers' Index, available now at www.nacm.org, reflected the mood of the overall economy, one with some aspects point in a positive direction and others decidely the opposite.
The sense is that a few of the big issues that have been affecting other economic measures are having an impact on the CMI. While it is hard to point explicitly at the "fiscal cliff" as a cause for overall decline, it is quite apparent that the uncertainty affecting business decision-making is having an impact, as some of the future indicators are weaker than expected at this point.
The most distressing category in this month's survey, and the one that seems to point to the fiscal cliff issue, would be sales. CMI statistics on sales show a decline to the lowest level since the middle of 2011. While disappointing and troublesome, sales remains in expansion terriorty, if nothing else.
"The silver lining in this case would be that a solution to the crisis would likely result in a jump in capital expenditures and investment in general, said Chris Kuehl, PhD, economist for the National Association of Credit Management (NACM) regarding the fiscal cliff issue. "The downside is that the powers that be could still allow the unthinkable to occur."
Meanwhile, favorable and unvavorable factors stayed on the encouraging side of the growth/contraction line. However, one particular category of importance showed a significant decrease. Dollar amount beyond terms sported the biggest decline among unfavorable factors. In the past, this has indicated that companies are starting to struggle to meet their obligations, and in the months to come some of the other negatives start to accelerate.
The complete CMI report for October 2012 contains the full commentary, complete with tables and graphs. CMI archives may also be viewed on NACM's website.
-NACM Staff


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Appearing on News Corp.'s (NWSA) Fox News Channel, Minnesota Representative Michele Bachmann said that she didn't plan to abandon politics and hinted that she might run for another office.
Bachmann told Sean Hannity, "I'm not going away." She said that she hadn't made any specific decisions about what to do when her current term expires, but indicated that she was seeking a "different perch," the Washington Post noted.
When asked if she would run for office again, Bachmann said, "that could happen." She admitted that running for the White House in 2016 wasn't her "number one item," but said that she would consider all options
Last month, Bachmann surprised political observers by announcing that she would not seek a fifth term in the House of Representatives. A long-time favorite of conservatives and the Tea Party, Bachmann has been criticized for her firebrand rhetoric. She launched a presidential campaign last year that ended without winning a single state and only narrowly retained her seat against a strong Democrat challenge in November.
The opinions contained in this column are solely those of the writer.
Want to share your own views on money and politics? Drop us a line at email@example.com we might reprint your views in our InvestorPolitics blog! Please include your name, city and state of residence. All letters submitted to this address will be considered for publication.